When you rent, there are many costs you won't have to pay. You will not pay the fees that go with the loan process. You will not pay commissions (real estate agents). You will not pay property taxes (local government). You will not pay insurance (you might choose a low cost rental insurance policy). There are many costs that go with homeownership. Expect that to be about 10% per year factoring in buying and selling costs.
You will not pay for all the new “stuff” that will go into your new home (private businesses). You will not pay the sales tax (state and local government) on all that new “stuff” that you and/or your spouse "need." You will not pay for the weekly maintenance, constant upkeep, and improvements on that new house that will ultimately fall on you and your budget. That 10% number keeps popping up each year.
What about the federal government? They will receive much less in tax revenue, because there are fewer homes being built, worked on, and sold throughout the country. The point here is hopefully clear. There are many people pushing you into buying home because they benefit from you buying a home. Only buy a home when you are ready financially and psychologically. If you are not ready, keep renting.