Bankrate.com has a great little article about when not to buy a house.
Reasons not to buy:
Job shaky? Don’t buy.
Into investing? Don’t buy.
Dreams too big for budget? Don’t buy.
Damaged credit? Don’t buy.
By Michael D Larson, Bankrate.com
You shouldn’t buy a house.
Believe it or not, that’s good advice for some people, no matter what the mortgage lender says. Depending on their financial status and aims in life, some consumers will likely be better off renting for a while and buying later, or maybe not buying at all, experts say.
Complete article: When not to buy a house