Renters pay extra for lack of liability.
This is an idealist fantasy where they’re assuming that the housing market is an idealized marketplace where people are looking for a place to live and decide between their options of renting and buying and weigh out the pros and cons. Maybe that’s true for certain PMC’s who make a lot or have duel incomes or both, but the reality is that a lot of people don’t have the option to buy because they don’t have a downpayment.
I just looked it up and the median savings of an American household is $5300. The median home price is $350,000. So even a modest downpayment of 10% is unattainable for at least half of people.