yecall......The decision to buy or rent is strictly individual choice for the reasons each person may have for doing either. This is the case unless of course a person cannot qualify to buy at a certain time & must rent.
It's never been considered financially wise to purchase a home if you know for certain you are living somewhere on a temporary basis. Any amount of time under 4 years is considered temporary.
However, if you are fairly certain you have settled where you'll be calling "home" for many years to possibly forever, renting is not advantageous. I wouldn't go so far as to say that renting is "stupid." It simply may be the less financially sound thing to do.
As for the landlord end of this. In order for someone to "get rich" as a landlord, they need to own several or more rental properties. The person who owns only one or two rental properties may only be making enough of a profit to pay one or 2 major bills per year. In other words, most landlords with one or 2 rentals, still must work their own full-time job in order to live well. The reality is that in these cases, your rent is not "making someone else rich!"
Please consider that owning is a huge responsibility with taxes, insurance, repairs, maintenance and local inspection fees. It's not all cash in their pockets! When deciding to own rental properties, one must consider that whatever the gross rental fees amount to, perhaps only 40 to 50% would be net.
Providing you rent from a responsible, fair person, renting is much more hassle-free than owning. So if your goal is to have your spare time & money to yourself by not pouring both into owning your own home, renting is actually the smarter decision for you.
What comes into play with a decision to buy or rent is also the particular area involved. The prices of homes as well as the average costs to rent in any given location are vital facts to look into quite thoroughly.
Finally, IMO, anyone considering the purchase of a home, should not rush into this major transaction without ample research and sound practical reasons. Rent until you are very sure.