This all depends on you and your situation. For example, your income, savings, price range you can afford as well as your taste. Many love the feeling of having a home that they can do whatever they want to do with it without asking a land lord. Are you wanting a home or just a place to live? First time home buyers may want to take advantage of the 8k tax credit. Many Bank owned homes are VERY reasonably priced. Maybe you want to put down roots and start a family. If you have sold a home recently and have tons of equity to move, then that may be a consideration to take into account. I for one (since I am self employed) enjoy the added tax benefits as it allows me to itemize.
There is NO yes or no answer to that question. You will need to evaluate your needs, wants and current position to determine what is best for you.