<prompt> Human: I make roughly 50K a year and currently live with my folks. Ive managed to save a decent chunk of change over the last little while with the hopes of putting a down payment on a home or condo in the very near future. That being said, I cringe every time I start shopping around. I live in Toronto and everything is so god damned expensive. There seems to be no happy medium. I know a home is suppose to be an investment but I just feel like if I were to take the plunge at these prices Id be locking myself into a financial mess for years to come. I feel like itll be a complete waste of my money.EDIT: Just to clarify, Im very pro owning a home. All I was trying to say is that Im getting frustrated with whats availableor not available to me relative to my income.EDIT: Thanks to everyone whos taken the time to respond and share their advice and suggestions. Didnt think I would get such a response!  <response>: Locking yourself into a financial mess is very different from paying off my own mortgage and owning an appreciating asset for very little money down.Honestly, I dont get your opinion. Sure, rent vs. own makes sense for the short term. But long term - youre way off base. 