<prompt> Human: Throwaway for privacy.Heres my situation: Im a 23-year old man, married to a 23-year old woman. We live in southern NC, and we are renting an apartment right now have been since we got married, about 2.5 years ago. Heres my financial situation:Cash on hand: Savings Account: US 15,000 Checking Account: US 1,000 zero-point always keep 1k in itInvestments: Two IRAs both less than 2 years old totaling 5,700. Employer matched 3 contributions on both. We both contribute 5.Debt: Auto loan Jan 2012 - starting 9k, current balance 6k, paying 220mo.Credit card: Revolving, never carry a balance, pay everything on the CC and pay it off at the end of the month. Usually 2k-ish balance.Income: My job: 50kyr salary Her job: 25kyr 12.50hr full-timeWed love to buy a house, but I dont think were ready for it. Average home price is 175k for a 3BR2BA, 1600-2000sqft in our area. We considered FHA with 3.5 down, but I really dont like the idea of PMI.Should we rent for a few years and save like crazy? Or is it a better idea to buy a house now and eat the PMI until LTV is under 80?  <response>: Have you run some numbers through the Rent vs. Buy Calculator in the sidebar? 