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Although interest rates have been low, and House price have come down to not so shocking prices.

There is still some ways to go, as long as less people become eligible for loans at any rate, because of low employment and lack of productivity in this country. Also working against the homeowner are higher insurance and higher city taxes, in every city some more so than others. Sure they save money in taxes, but they are paying more other fees than a renter. The government is giving you money to buy a house, what does that tell you?

Rents may go up or down, it's possible down as long as RE keeps going down and more people default.
Even home owners who buy now on average 150K-185K, stand a great risk that their house may be valued at 89K-120K before we realize a stability in the house turning around.
If you don't think it's fair that homeowners get any tax break that's fine, but what's the point in worrying about what somebody gets in comparison to your situation? What they aren't telling you is "and I'm still in debt up to my eyeballs."

Owning is about paying those housing related costs that renters don't pay, then getting some of them back as form of tax return. Renting is not about tax deduction, but about not paying tax from the begining.

Some counties offer renter assistance program. My county has a program like that, but I am not qualified. I guess I am not poor enough. lol. You may want to check your local government to see if they have something for you.