<prompt> Human: There are new condominiums being built in an expanding downtown area and are going to be priced to target millennials 100-250k and Im interested in putting down a deposit. I find that putting monthly payments toward equity somewhere is much more valuable then renting, as the surrounding area lists 500sqft studios at 1,300mo.My current long-term plan is to purchase a condo, live in it until I get married and have kids, then purchasing a home. Renting the condo out or selling it to support a down paymentmonthly payments on my home is the goal.My question is, am I too young to look into getting a mortgage and purchasing one? I work at an investment bank right around the corner, have excellent credit, and plan on making roughly 3,800mo after taxes. Why is it that almost everyone my age rents? Am I missing something?  <response>: Why is it that almost everyone my age rents? Am I missing something? They dont have money for a down payment Theyre only starting to learn personal finance and hopefully responsible personal finance Buying may cost more than rent per month, especially with a small down payment When youre young, your livelihood is less established. You may move jobs, cities, significant others, etc. That makes staying in one place harder. 