[gutnor]

Careful here with the "prudent financial decisions" They took a risk and it paid off. It is only prudent if they were in a position to take the loss if the market had gone the other way. And I assume they still have their loan, so they are still at risk of losing the mean to pay it. Big risk, big reward/losses.

I talked to a guy that became property millionaire, if I had followed the exact same step he took, just with 2 years difference and a different city, I would have been in bankruptcy right now. You didn't/couldn't take a loan when they did - that boat has sailed. Buying today is a different market and you should approach it ignoring what you friends did in the past.

I won't give you market advise as I don't have a crystal ball. However, as a renter you are free to move around - that's your strength. Alternative to buying is therefore to move around and maximize your bang per rental buck. In most cities, there are areas where people would rather rent than buy and vice versa. Try to rent in the place where the rental yield is the minimum. Also, you have can look for better job opportunities that requires moving.