This is a great question. I believe that owning a home is always a good investment. You should always buy a home if you have stable income and also save some money on the side. If you for some reason you need to change jobs, you will not be stressed. Planning ahead is the key. If you plan to buy a house in two years, plan and save for the down payment. It is advisable not buy a home during the peak periods. Try to find a bargain. Sometimes older homes are cheaper and you renovate it. At times the market will fluctuate but it must come up at some point. If you need to sell the house, sell it when it is peak time. You can always rent a portion of your house as well for extra income. I like the 15 years better because you will pay it off quicker and can plan for retirement and other activities.
Renting is realistic when you what to travel and don't mind moving or dealing with the landlord etc. It is hard to find cheaper rent in good neighborhoods.
Hope this helps. I am curious to find out what others are writing. Thanks for the question.