All of this you have essentially no control over and are exposed to for possibly a 30 year period. At least with renting you can look for a better deal after a 12 month contract ends. I'd imagine a lot of people were lured to buy by people telling them house prices would never fall and lost big.

If interest rates go up and the person who you're renting off has a mortgage on the place and his interest rates go up - your rent will go up.