If you have been setting aside money, constantly waiting for the "right time" to invest in a house, you might want to take a look at the 'To Rent or Buy?' infographic.
The information presented in this handy graph points out the geographic regions that have the most people planning and waiting to buy a home. It also shows that homeowners are both literally and figuratively more invested in their home and, as a result, the neighborhood. They are more likely to keep a garden, belong to a Parent/Teacher association, vote for government members and invest in home renovations.
The old myth that you will always save money by renting has also proven false. Though it takes a significant amount of time for owning savings to surpass the immediate savings of renting, if you intend on putting down some roots down, it will pay off in the longterm.