There is nothing "loser" about living in an apartment. A very wealthy man I know once said to me, "Do you have any idea how much money I've saved over the years by NOT buying a house or condo?"

The investment arithmetic of buying is not necessarily the wisest choice for everyone in all situations. Certainly, if you talked to all the people who purchased - or were duped into purchasing - homes way beyond their means in the States, and are now losing their homes, they would agree with me.

If you are planning a family, or have a modest amount of money you wish to see grow over the long term, then buying a house (within your means) is still the best overall option. But here in Vancouver, where they're asking $600K for a 600 sq ft one bedroom box in the sky, it makes absolutely NO sense at all. Many of these same people are massively in debt and have almost nothing in the way of liquid assets. But at least they can say they're "home owners", I suppose.

Personally, in that situation, I'd rather rent and have several hundred thousand dollars carefully invested.

 

That's why I'm happy to live in podunk, I don't make alot, but it goes a long way as far as housing is concerned. For $600k I could have a 4,000 sq.ft. house with 4 car garage on an acre or so with nice trees and a lot of upgrades. $600k for a 600 sq.ft. box is insane!

 

I like the cost of housing in Texas. I saw a house with a full porch for 150 thousand. 4 acres

 

They don't have affordable housing in Minnesota?

 

Not like Texas.

 

I'm 46 and moved into my sisters cellar for a year. That was 5 years ago!

Before that I was out when I was 19. Work got slow back then, and my rent jumped from $765 to $1005. Rent prices were getting out of hand and I moved here. It hasn't saved me any money but I went from broke to being able to buy a new SUV in 05, and the Mustang this year.

It has it's perks. My rent is the electric bill, but unfortunately the house is electric heat. In the summer the pool runs along with 2 air conditioners. A $500 electric bill is not uncommon, but still better than $1000 for rent!

 

Yeah, rent around here is not cheap.
$500 electric bill though???
My August bill was about $55.

 

$500 is what i'm predicting to be about the average based on higher fuel costs. It used to average around $400. The new bill just came in yesterday for 9/12/08 to 10/10/08 and was $363. Not a lot of pool and A/C use during that time and the weather here has been great the past month, so the winter bill is going to suck.

It also doesn't help that my niece sleeps with the TV on, lights get turned on but not off, 3 TV's can be on with 2 people upstairs and nobody watching them.

Sigh...