That said, this is only really a good option if you've got a healthy income level and strong saving habits. If you don't, you won't be able to borrow at a reasonable rate (and you won't be able to pay it back quickly).
I think it really boils down to what the relative costs are. There are many renters who pay as much or more as someone with a mortgage, and the person with the mortgage is obviously building up capital within that property (value Vs. current mortgage).
I certainly held off buying for a fairly long time because I didn't want to be locked down in that way. In retrospect I might have done things differently but hindsight is 20-20 and all that.
In my case foresight was 20-20 since I bought in 2012 and I knew that when interest rates on a 30 year fixed were the lowest they had been in 30 years that this was the time to lock in a mortgage. At the same time, housing prices in my city were the lowest they had been in 15 years so it made sense to buy. I knew if we didn't make a move then that we'd regret it once interest rates and prices started to rise.
1. It's important to get a job and start saving for retirement the minute you're out of college. >It's more important to spend time thinking about what you want to do (surfing in South America?) than to start working and paying off students loans immediately.
2. Getting a credit card right out of school is dangerous. >Get a credit card with a small limit ($500) and set it on autopay.
3. The American dream involves buying a house. >Rent rather than buy and don't get attached to anything while you're young.
4. Once you graduate, immediately try to build up a cash emergency fund. >Use 401k as an emergency fund, even if you have to take the tax hit. Long-term benefits outweigh short term risks of doing this when you're young.
5. Investing is difficult, and stocks are sexy. >Avoid managers/fees and just put money into an index fund.
Nothing too radical.