Reply to Validate my view that long-term renting is a valid lifestyle choice

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]In the same boat. 37 and haven't bought yet. Lived in NYC for 10 yrs -- where renting esp in midtown Manhattan is super common. Moved here 2 yrs ago and started renting bc I didn't know the area enough to buy right away. Now I'm like -- eh should I buy, I don't want to live here really??

But I feel like people here look down on renters A LOT more than in NYC. I get plenty of "poor you" type of comments along with "oh but I'm sure you saved up a down payment in all those yrs in private practice, why not buy?" along with snide insinuations that I can't afford it.

IDK -- I've maxed out the 401k to 18k (or whatever the yearly IRS max was each yr) since age 25; and have built up an almost similar amount non retirement investments. So I don't get why people assume every renter is paycheck to paycheck and can't scramble together a down payment.[/quote]

Sounds like you are ready to buy financially but are choosing not to and instead have invested that money. Great - that's not a bad choice. You could buy an investment property; or not buy until retirement in cash/mostly cash when you may move someplace cheaper than NYC or DC (or even if you stayed - you likely wouldn't have to pay a premium for commuter conveniences, school districts etc. and could get something cheaper than what'd you need now). But if my friend/coworker/acquaintance group is any indicator, [b]for every 1-2 people that handle it like this, there are 10 people who will rent the best place they can afford and be spending on the requisite luxury cars/vacations/etc. and aren't in a position to buy at any point and don't have significant investments either; [/b]heck most of them don't even put 18.5 in their 401ks despite having the type of income that allows that.[/quote]

This.  [/quote]

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