I think this is based on several assumptions that don't apply to everyone:
You have to live in the same area - people who are retired or people who now can work remote don't have to stay in the same area, opening up many, many options
You have to buy another house - there is nothing wrong with renting, especially now with interest rates high
You have a family - many homeowners are single or a couple w/no kids and can get a one-bedroom if they need to, opening up many more options
You have to have a home that has A, B, C, D, E, F, and G - you don't need stainless steel appliances, an attached 2-car garage, hardwood floors, quartz counters, open kitchen/living room, heated bathroom floor, etc., especially if you are only renting for a year or less
There's plenty of housing options out there (so long as you don't have a big family).