[milkytron]

> for renters don't you worry about being unable to control housing prices long term?

Yes. This is what ultimately led me to a home purchase. I rented for 3 years, and moved each time. After the first year at each place, rent was increased anywhere from 4% a month to 15% if I were to renew. I ended up not renewing a lease each time, since I didn't have many possessions and could move within a day with the help of a buddy for the big things.

I think that might answer your second question too, but I was younger and had less obligations at the time, so moving was more feasible.

I ended up buying simply because I was already renting the cheapest in my market (really bad area, but good location for my needs), and rent was skyrocketing at about 5-10% increases everywhere I looked. I bought for many reasons, but the primary driver was as a way to secure a stable monthly payment and not have too worry about increasing my future wages to keep my current quality of life.