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Chief
Most cannot wait for decades renting apartments and keeping their life on hold. If you have to pack up and go, you can sell your house and take the cash.
Home ownership is a life milestone/major investment. And it’s a big upgrade from living like a bachelor
The insane backlogs for EB2 and EB3 are a relatively new phenomenon. In the early 2000s it was a relatively short wait (5-6 years from what i understand) but started getting ridiculous only around 12-15 years ago. Plenty of people came before then and occupy the expensive houses with the security of a GC /citizenship, and plenty others have a risk tolerance that allows them to do it on a visa