It's a financial calculation like everything else. Don't assume they do it for purely emotional reasons. I chose to buy because: 1. It's significantly cheape

It's a financial calculation like everything else. Don't assume they do it for purely emotional reasons. I chose to buy because: 1. It's significantly cheaper after tax deductions compared to renting in my area. 2. This is the highest paying area for the software labor market in the world, and I've looked compared to last 10 years. I don't really see anywhere else that would get better than the SF bay area. 3. It solidifies your housing costs. When prices are rising relatively rapidly, it can be a money saver, and over the long term, it's definitely a very large money saver because it locks your price in. That is a risky bet to make for sure. You can end up with a housing bubble and being underwater for 5 years, or you could end up in somewhere like london or vancouver, where it goes up and stays up and by the time that 'bubble' pops, your 50 years old. But that is the same risk you take when you chose whatever profession you have as a career or by leaving your down payment savings in stock & bonds. 4. You have to compare against what your down payment would make in the stock market comparatively. 5. When you move away to better opportunities, you can just rent it, especially if rental prices have gone up a %5-%10+ since you bought and would cover the management fees. Maybe life will bring you back again, especially if you left from a pretty good market already. 6. If you save a lot of money, trading a fraction of your savings in down payment for a discounted housing cost for the rest of your life can be a good one time investment.