I have wood flooring in the new house we bought. I like it; it’s solid and stain resistant.
I visited my parents last summer and they put down laminate flooring in their condominium. Actually they used to have carpet, but my father had asthma that was chronic and getting worse. He was constantly coughing and could never locate the source of his problem, despite a cocktail of medications given to him by the doctor.
The long story short is that he was having an allergic reaction to the carpet. He changed the carpet to laminate and all of the coughing stopped. That’s not the main reason people switch to laminate, I know, but those were the circumstances with him.
As far as aesthetics go, I think laminate flooring looks great, certainly comparable to wood flooring and of course it’s far cheaper.