What most people also don't take into consideration are the opportunity costs of buying a house and paying a mortgage for the next twenty or thirty years. If instead of buying you rent and invest the money you would otherwise pay for the house there is a good chance you will be much better off in the long run.

I think this has come up before when that video was posted here but when you consider buying vs renting you really need to do the calculations for your specific situation that should be the only take away from that video. Taken as general advice that you should always rent and never buy it's pretty horrible just as the opposite is horrible advice in general.

It's pretty easy to get a rough idea of what is better in your area using a rent vs buy calculator the New York Times has a good one... http://www.nytimes.com/interactive/business/buy-rent-calcula...