To add to the comments below, I think if you can get your mortgage+property taxes+home insurance close to what you would pay in rent, it makes huge sense:
1. You are locking in a payment for life with a 30 yrs fixed loan, where rents will inflate greatly over time for life time renters
2. When you buy you get to write off the mortgage interest and property taxes, which is a HUGE tax savings you don't get when you rent
3. You will be getting a fully amortizing loan where you will be paying a chunk of the loan principle every month, when you rent you are not paying off anything except the landlord mortgage
4. You can get the mortgage paid off one day and retire with a extremely low payment (just taxes + insurance + hoa + maintenance) - where people who rent and never buy will be stuck with a much higher rent than today down the road and will never have a low cost paid off home with no mortage
But the above points are only if the PITI is close to rent. If the PITI is way above rent, I would think twice. Because with ownership you have a lot of additional costs with maintaining a property and possibly large surprise costs like new roofs, fixing plumbing, electrical, fixing foundations, monthly water and garage bill, and not as much flexibility to move around as when you rent.