I think that quotation applies to boats.
To give an example on condos. I bought mine for 3.5 m baht 18 years ago. Rent would have been @ 25,000 a month. So in 18 years i would have spent 5.4 m in rent. So not only have i saved 1.9m baht i have my own condo free and clear. OK i could have invested some of that 3.5m but coming from the UK most of the past 15 years i would have only got 1-2%. Plus i bought when the Pound was 71 so locked in all my accomodation costs at 71. If i had rented i would be paying rent at 45 to the Pound, for ever........