A lot of people are watching the current economic crisis with a mortgage failure at its core and assuming that they had been not even think about buying a new house on mortgage. This way of thinking is simply wrong. If you are spending over $1,000 on homes for rent, and can afford to comfortably do so, then there is no reason you cannot take out a mortgage and just as comfortably handle the monthly payments. The current crisis happened because people with no means to repay were taking out mortgages and large loans, and the banks were letting them do so. But if you have the means to pay, go ahead and get a mortgage and buy your dream house. In fact, this may be the best time to do so, as property prices are at a low point, giving you much more for your dollar at present.