By all means buy a house. As Marion implies, any child who can’t depend on their parents to provide a stable home because the family is renting needs all the help they can get. If Mom and Dad feel that they are failures because they are renting,…well, just how screwed up is that kid going to be? It’s far better to make any sacrifice you must to provide a house for a newborn baby because you know how often those latent childhood memories twist around and make them hate their parents!
Since the current level of home ownership is unprecedented, I’d guess up to a third of the readers grew up while their parents rented,…and look at what a miserable bunch they are. By the way, don’t forget the designer clothes for the baby, you want your child to start off on top in the status game.