Why Renting Makes Cents

Here is an article from SmartMoney on MSN money. The author talks about why he rents instead of owning a home. Here is a teaser:

I have something un-American to confess: I rent an apartment despite having enough money to buy a house. I plan to keep renting for as long as I can. I'm not just holding out for better prices. Renting will make me richer.
I normally write about stocks for SmartMoney.com, but the boss asked me to explain to readers my reason for renting. Here goes: Businesses are great investments while houses are poor ones, so I'd rather rent the latter and own the former.
SmartMoney

Here is the rest of the article. After reading it, I don't feel as bad about renting. Do you own or rent?