Absolutely! Wouldn't you like the tax deductions that come with owning a house -- mortgage interest, property taxes -- that could dramatically change your income tax picture, rather than throwing money away in rent every month? Many experts say this is the best time to buy and you are the ideal buyer as you are presently renting and have nothing to sell. There are still good mortgage rates out there (ask your realtor, or call perhaps Hudson City Savings Bank or Bogota Savings or Wells Fargo) and sellers are very motivated to make a deal now that so many prices have adjusted down to a more reasonable level. If you stay for at least 2 years, you should be OK. Remember, even when you sell in (perhaps) fall of 2009, you will also be able to take advantage of the same marketplace in a less expensive market wherever you move, and many people are doing that now. Let me know if I can help you!