[floppydisk]

That's the way my recent home buying friends look at it. They know they'll be in this metro area for X years and given most landlords raise rents by 3-5%+ in this area depending on demand, getting a 30 year fixed mortgage lets them lock in housing, in a location they want, for a fixed rate per month that never goes up. In fact, if they do it right, they can refinance and get the rate lower. Net result, housing becomes a fixed, rather than variable, cost they control with the bonus of being able to do with the space as they want. No questions asked.

[TylerE]

I think that's a bit naive, as owning a home can unexpectedly get VERY expensive (roof repairs, foundation repairs, etc)