Sure, cities are fun, and everything you described is excellent. But you’ll be old at some point, and your income will drop dramatically. Will the city pay you a retirement salary? How will you pay rent? Did you manage to save anything? Cities are great, and everyone should try it out, but you’ll continue working…

I agree. It doesn’t make sense to give up a 3% mortgage if you can rent it at or above your monthly cost. In the short term rents will go up, housing prices will stabilize but not drop. In the long run, housing will continue going up, just slower.