When, if ever, would you feel like a loser for being a renter?

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I'm assuming you are referring to the general Orange County RE market? I guess my answer would be somewhere between when rent parity and when prices hit bottom. If we were talking about say the IE; I would feel a looser if I don't own when I'm 18! But say, New York or Tokyo, it's perfectly acceptable to rent for your entire life.
 
[quote author="roundcorners" date=1245546445]I'm assuming you are referring to the general Orange County RE market? I guess my answer would be somewhere between when rent parity and when prices hit bottom. If we were talking about say the IE; I would feel a looser if I don't own when I'm 18! But say, New York or Tokyo, it's perfectly acceptable to rent for your entire life.</blockquote>


I would have felt like a loser if I purchased my IE house for $400,000 three and a half years ago (like some moron did) when, had I waited, I could have purchased it a month ago for $150,000 (like I actually did).
 
I guess I could feel like a loser for purchasing my house for 800K in 2004 and not selling when it was appraised for 1.3 mil. I really don't, because I love my house and will probably live here until I die, so I guess I don't fit any category you have listed. I would also have to say that I didn't feel like a loser when I rented until I was 29 either. I guess I've never felt like a loser and probably never will.



And BTW, if my house appraises for what I owe on it, which I suspect it will in the near future, I still won't feel like a loser.
 
[quote author="IrvineRenter" date=1245581216]I would feel like a loser if I ever started judging myself or other based on whether or not they owned real estate.</blockquote>


But I guess judging people based on their desire to buy in a bear-market-and-don't-you-dare-think-otherwise is okay, right? Just kidding. Sort of. :)
 
I am in love with my wife, my momma, my two white dogs, and my wallet.



<blockquote>The things you own end up owning you. </blockquote>


I owe a drink to whoever comes up with who said this quote, WITHOUT using Google.
 
[quote author="traceimage" date=1245586025][quote author="IrvineRenter" date=1245581216]I would feel like a loser if I ever started judging myself or other based on whether or not they owned real estate.</blockquote>


But I guess judging people based on their desire to buy in a bear-market-and-don't-you-dare-think-otherwise is okay, right? Just kidding. Sort of. :)</blockquote>




I don't really view it as judging, just looking out for our fellow man. If you've been here long enough, it would be hard to see it otherwise.
 
In regards to no_vas's question, I know, but I'm not telling, I have enough beer anyway as no_vas knows. I just don't think that anyone truly owns living things, so you don't count no_vas (except your wallet, but who wants that?). Your living things do own you and it's a GOOD thing, what else would keep you going in this crazy world? The guy who said it owns a lot and he has a lot of living things also.
 
[quote author="awgee" date=1245589400]Huh? Why would my self view depend upon whether or not I was renting?







The question is too bizarre.</blockquote>


For some people, owning a home is a rite of passage of sorts...like graduating from college, buying a car, getting a job, etc. Some people don't feel they've "made it" if they don't own their own home by a certain point in their lives.
 
[quote author="traceimage" date=1245590147][quote author="awgee" date=1245589400]Huh? Why would my self view depend upon whether or not I was renting?







The question is too bizarre.</blockquote>


For some people, owning a home is a rite of passage of sorts...like graduating from college, buying a car, getting a job, etc. Some people don't feel they've "made it" if they don't own their own home by a certain point in their lives.</blockquote>


The OLD paradigm, believe me, it has changed. Many won't realize it until later.
 
[quote author="tmare" date=1245590221][quote author="traceimage" date=1245590147][quote author="awgee" date=1245589400]Huh? Why would my self view depend upon whether or not I was renting?







The question is too bizarre.</blockquote>


For some people, owning a home is a rite of passage of sorts...like graduating from college, buying a car, getting a job, etc. Some people don't feel they've "made it" if they don't own their own home by a certain point in their lives.</blockquote>


The OLD paradigm, believe me, it has changed. Many won't realize it until later.</blockquote>


So very true! I will have that rite of passage and sense of accomplishment when I <em>own</em> my home, that is when I have paid the mortgage off and I actually <em>own</em> the home. Until then, I am just paying someone to keep a roof over my head, and then I'd feel like a loser if I couldn't do that.
 
Renting or owning is not the real issue for me. I'm more concerned with being happy with where I live. If I live in a nice home in a good location that is close to family, friends, work, and recreation - it wouldn't matter if I owned it or rented it. What would matter is how much I'm paying to live there. Whichever is financially more sensible (renting or owning) is what I'll prefer to be doing.
 
Let's say there is an asian dude name Tek who lives in Irvine.



1) He drives around in a broken down hyundai sonata

2) Rents a 2bed/2bath apartment at portola place for $1700 a month

3) He has a million dollars in hard cash in the bank and wisely investing the money to grow 10-15% a year.



I would think that Tek is a stud.
 
[quote author="usctrojanman29" date=1245616642]When the cost of renting is more than the cost of owning a home.</blockquote>


In a rational market.



(no maint, no tied-up dp, no insurance, no reserve fund for repairs, etc)
 
[quote author="freedomCM" date=1245642598][quote author="usctrojanman29" date=1245616642]When the cost of renting is more than the cost of owning a home.</blockquote>


In a rational market.



(no maint, no tied-up dp, no insurance, no reserve fund for repairs, etc)</blockquote>


Maintenance, insurance, etc., are all "costs of owning a home".
 
[quote author="no_vaseline" date=1245586908]I am in love with my wife, my momma, my two white dogs, and my wallet.



<blockquote>The things you own end up owning you. </blockquote>


I owe a drink to whoever comes up with who said this quote, WITHOUT using Google.</blockquote>


Tyler Durdan said it, though I'm sure it's been said by someone more famous and profound.
 
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