But what about those who aren't lucky enough to be in a rent-controlled situation?

The debate of renting vs owning is different for everyone and dependent on a huge range of factors.

In the US, homeowners pay more than those who rent, on average. In the UK, you'll pay more to rent than you will on a monthly mortgage payment.

There is no definitive answer as you which is better, but most people who envision a future where they are settled down probably imagine owning their home as opposed to renting.