This post got hi-jacked quick...
Props to mino2126 and irvineperson for diligently saving the down while your friends piss their money away. I feel your pain. I can't tell you how much I want to get out of my cramped apartment and into my own home--one that I can walk all the way around. Personally I could never be satisfed having a condo or town home. To me its not a home when you have to listen to your neighbor move furniture or do the mombo-jombo, or when you don't have your own yard large enough for a couple of dogs (I want an English Springer Spaniel).
The way I look at it, financial freedom means the opportunity to make what you want of life: to go on vacations and spend time with your family, to not have to stress about money, and to have the opportunity of living a higher quality of life. In obtaining financial freedom I am convinced you must learn delayed self-gratification, and saving up for a home is an excellent exercise in this. Most people in Southern California never have, nor ever will, learn this level of self control; exemplified by their impatience, materialistic obsession, and pretentious facade of wealth.