The way I look at it, I don't view it as an investment. Renting or buying, you're still going to have to pay for a place to live, unless you want to live on the street. I bought my house two years ago and the mortgage is the same as rent was for a similar sized apartment, but I don't have to worry about rent going up year over year. Also the apartments we lived in before were getting dangerous so safety is another factor in my decision to buy. So to me, the pros outweigh the cons when it came to buying a house. Can't beat stability in monthly housing cost and added security of controlling your own property.