German, of course ;)

The German equivalent is that everybody is complaining about rising rents in city centers because everybody wants to live in city centers. Home ownership in Germany basically means that you'll have to pay it off for the rest of your life anyway (and that's not a new phenomenon) so in the end there isn't all that much difference to renting finance-wise, except that renting is usually much less hassle.

The usual distinction between rent and mortgage is that your housing costs build equity when you are paying off your mortgage. Either way, your salary vanishes, but if you pay off the mortgage then you own a six-figure asset.

What the calculation looks like is extremely dependent on local constants, of course. I'm some countries, housing depreciates.