Yet one needs a down payment before even having a chance from the banks to get a mortgage. On top of that I would have to stay in the same area for a long time. Considering not having a stable job and have moved from town to town the past year it is not easy for some to just settle down when the work is on the move. I am not saying renting is better, but saying that not everyone has the choice. Some simply can not afford to purchase so have to settle to rent.