I guess the main determinant should be mobility. If you are 23 and you dont have a career yet, want to go to a law or medical school, do your phd or whatever th

I guess the main determinant should be mobility. If you are 23 and you dont have a career yet, want to go to a law or medical school, do your phd or whatever then chances are next 5-10 years you will be moving a lot and have no idea where you will end up settling down. In such cases having had committed to such an investment is a bad idea. But if you are 30 years old registered nurse married to your high school sweetheart who is a teacher and dont plan moving anywhere then buying is absolutely a safer bet. I dont know about other parts of the country but here most of the good areas of North East region mortgage is cheaper than rent. Most people buy a 4 bed 2 bath house and sublet the top floor or something making sometimes more than half of their mortgage payments from subletting. I think its an awesome investment if you purchase it at the bottom of the market, not on the peak, even if you buy at the peak over the course of 30 years you will end up having made a good investment unless your town goes to shit for some reason. And just like any market, housing markets goes through ups and downs and since its such a long term investment you are better off holding off 5-10 years to wait for the lows of the market meanwhile saving up for the down payment.