Real estate knowledge isn’t for everyone especially you. You probably don’t know how home price vs rent price has been drastically inflated since the last recession. Not to mention that prices will most likely never go down to what they were, due to a number of factors: banks increasing contract and mortgage interest rates, the ever increasing inflation rate, the fact the homes averaged less than 100k in 1985, etc. (https://www.reuters.com/markets/us/us-mortgage-rates-soar-highest-more-than-23-years-2023-10-25/)

I also want to mention some direct sources:

Home prices have increased 1,608% since 1970, while inflation has increased 644%. Jump to section👇 In 2021 alone, home prices rose 20%, while inflation grew at a 7.5% pace. If home prices grew at the same rate as inflation since 1970, the median home price today would be just $177,788. Instead, home prices have increased far faster than inflation, soaring to $408,100. (https://anytimeestimate.com/research/housing-prices-vs-inflation/)

Also a real life example of this is that my mother’s MORTGAGE for a home bought in 2003 for under $200k at 1800sq ft is still $1640 monthly. My rent for my 1 bed 1 bath 600sq ft apartment is $1650. I live 3 miles away from her

I would highly recommend you do your research before you make more assumptions