This is true, we have been renting even tho we can afford.
Last year when we were looking for house to stay, property prices for landed at our desired place was very hot,
we decided to rent and not FOMO (very difficult, cos you also afraid that it will keep going up and you may have missed the boat).

Coming today, we noticed that the demand has cooled down a little, even asking price (depending on the condition of the house (old neighborhood)) also dropped 20k at least.
To put in perspective, assume that our rent is 1800 per month, that is 21,600 per year. no maintenance fees
If we delayed 1 year or so to buy, you also save abt at least 20k of the house price, + higher bank loan, + interest rate.