Part of it, here in Aberdeen at least, is that rental prices are extortionate, and if you can scrape together the money to buy, it's often much cheaper; I'm paying a little over half the rental cost of my flat in mortgage payments each month. Most other home-owners I know are in the same boat and save a lot by owning rather than renting. I realise there are added costs to owning, and it's not quite apples-to-apples, but I'm pretty sure we all still come out ahead at the end of the equation.

I realise I'm very fortunate to have been in the position to buy a place five years ago, and I'm grateful for the combination of fortuitous timing and hard-work paying off. That said, if I could have continued to rent affordably, I would probably still be renting today.