Owning is only more expensive than renting if depreciation + interest + maintenance exceeds rent. And in most US cities, depreciation is negative in the long run.

Lots of advantages to owning and having a mortgage too: deduct mortgage interest from taxes, use equity as a line of credit, you can actually make substantial changes to your living space, and so on.

That was in the context of loosing a job - rent vs. mortgage makes a difference in a span of few years when unable to find similar paying job.