These types of analyses miss a couple of important points: (a) when you buy, the value of your house tends to go up (unless you are in a very specific down-spiraling market). So at the end of your mortgage you own an asset that will probably be worth twice as much, if not more. (b) the maintenance cost of 1% is hugely over-estimated; I spend less than half that amount, easily, in maintaining my current home; (c) mortgage rates are at an all-time low; this is a good moment to buy; (d) stock market returns depend A LOT on your performance as a portfolio manager... I make 20% a year returns, but some people can lose money in the market, others can make twice as much.

Bottom line: young people tend to prefer the flexibility of renting... And if you don't have the initial capital to get a mortgage, then you have no option but to rent; but it is DEFINITELY more expensive than buying, in the long run.