Is this the right time to buy a home? If not now, then when? When you get older? Maybe you need to tell tell this to yourself before you get scared away from paying the monthly mortgage. Why would I rent if I can own my home?!
Renting means that home will never be yours anyways... Add to that the growing home market.
"Home prices have finally started to recover in many areas, though they are still low enough to get a deal in many places. And after a period of across-the-board declines, once again "housing markets are very local phenomena," says Stan Humphries, chief economist at real-estate firm Zillow. According to the Standard & Poor's/Case-Shiller index, home prices in October 2012 ranged from down 1.3% in the Chicago area to up 21.7% in the Phoenix area from a year earlier.
Interest rates are hovering around historic lows. Meanwhile, renting—the option for many 20-somethings—is getting more expensive. "
Read more here wsj.com