Should I buy or rent a home?

Renting
Flexiblity (can relocate easily)
No equity
Can invest money elsewhere (stock market)
Annual rent increase could outpace inflation
No upkeep fees (drippy faucets, broken dishwashers, etc.)

Buying
Tax-break: deduct mortgage interest and property taxes
Property tax and upkeep
Potential tax-free capital gain
Mortgage costs
Emotional satisfaction
Less flexibility should you want to move; in very bad housing markets, you could lose principal