should we own a houst or just rent an apartment?

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The real estate in China grows very fast,especially in the main cities.In Shanghai,if you want to buy an apartment, you need not less than RMB2,000,000.It's a quite large number for an ordinary employee. If you earn RMB5,000 a month ,and you don't eat,don't drink, don't spend any money, you should work 33 years...And according to the low ,you can just own it for 70 years~~ if you rent an apartment, maybe it's RMB2000 a month, you rent 70 years, it's only 2000*12*70=RMB1,680,000..... So,should we buy it????or just rent it????