Absolutely. But you should realise that while you are renting you are 'short' on housing and you will either need to keep buying housing monthly (a.k.a. renting) for the rest of your life or buy a house later (hopefully cheaper or at least more affordable to you than you could now). There is nothing wrong with being short on the housing market you may have no alternative or you may have much better places to invest your assets or you may just think house prices will fall.

No option is risk free but the lowest risk approach is to match your lifetime needs to your assets so that you don't care what happens to house prices.