Please read my comment in context - which is that RE prices are unreasonably high (i.e. reason tells you that you shouldn't buy). In this context renting is better - people who bought this spring will likely slave away, dealing with the consequence of their action for the next 2 or 3 decades.

I can agree with you that saving money for a future RE purchase - when the price is right - makes sense, as long as we discuss the purchase in the abstract. However, right now, in Toronto, the market is insane and renting makes sense.