Buying is not intrinsically superior to renting:

• Until you can sell your house, you’re stuck with it. Sure, it is an investment, but you only get returns when you sell. Until then, you pay expenses. A lot of them.
• Buying a house does put your “rent” into equity, but also creates expenses:
  • Interest on your loan
  • Insurance
  • Property taxes
  • Utility costs
  • Necessary repairs and improvements
• Renting is better for a variety of lifestyle decisions:
  • Upcoming move (out of the city) within the next 5 years
  • Poor knowledge of the area
  • Uncertain income over the next five years