Some will fit your categorization UT, but just as many, if not more will have been saving and investing while renting, being of the opinion that they would prefer not to be a lamb in the slaughter by joining the queue of zombies, paying 9.8 times their before tax wage for the average house in a age where you are encouraged to join in on the debt orgy by banks, the government, society, even your own family. It's called following your instincts. If you feel uncomfortable watching others pay the ridiculous prices, you can follow that feeling and not join them. Or you can just bite the bullet because that's what everyone else is doing.
Moral of this story is UT, not all renters are stupid.