Not sure. All of my friends still renting seem to live large. I only have one friend who I'm convinced truly socks his money away and that renting is truly a choice for him.

I have one married friend living in a more expensive city who spends an enormous amount of money on travel, clothing and jewelery. I'm talking purchasing multiple pairs of 1k shoes a year, 1k plus a night hotel rooms, dining out at the most expensive restaurants, two fancy cars etc. however, they live in an old run down apartment and have mentioned how expensive it is to buy. Seems to me they are spending all of their money and aren't choosing to rent because they think it will allow them to invest more money.

The rest of my friends who rent also live in DC or more expensive cities. I don't get the impression that any of them are investing heavily or even have the money set aside for a downpayment but choose to rent. Instead, they seem to spend all of their money on dining out and travel.

It reminds me of the student loan people who claim it's better to keep the loans because they can earn more in the market. However, I'm not so certain they are really investing in the market. I'm also not convinced the renters are investing in something else other than real estate. I think they just spend all of their money.

My friends still renting seem to not be worried about this but it's not like it's something I discuss with them. I want to have a paid off residence in my 40s and wouldn't feel comfortable going into retirement renting. Not to mention their rent goes up every year and their rent is either more or the same as buying when you take into account the tax deduction.

I assume you are throwing away money and have large college debt. The single part seems like part of a current trend, but it also leads to less wealth for the vast majority of people. Why do you care what others think? More importantly, what do you think it says about yourself?

I think they're probably:
a - missing out on a great tax break, and
b - enjoying not having to deal with things like roof leaks and bathroom renovations.

They might also be able to rent in a cooler place than they'd be able to buy, and if you're a 30-something professional with no kids or spouse, "cooler place" can be really important.

they may also not want condo fees. Condo fees can be a giant pita.

Anonymous wrote:

Anonymous wrote:Personally, I think the Single part is more out of the norm than the apartment part. Plenty of mid-30s people live in apartments, but most people couple up by then.

You must not live in DC.

PP here. I've lived in the District for over 10 years now, and I'm 34.

Anonymous wrote:Unless you're clearly living way beyond your means (i.e. flashy car, very expensive clothes, going out all the time), I would think you're either:
a. hoarding cash
b. not wanting to stick around

Yup, this is what I would think too.

It's an endless cycle. First to be engaged, first to be married, first to have a kid, first to buy a townhouse, first to buy a sfh and the judgment that ensues. Don't worry about it. But maybe treat yourself to 2 bedrooms if you'd like.

We're married parents and live in a perfectly nice close-in house. We rent and will for several years more.

Our close friends probably know we experienced some underemployment after the recession, we are not the type of people to buy a house without a good downpayment saved up. we toy with moving from here, and we're younger parents for this area (had kids in 20s). I'd hope they wouldn't judge us for that.

People who don't know us? I don't give a poop.

I'd be more concerned that you are single with no kids and are spending time on DCUM. Go find a website that is more fun!

Anonymous wrote:Personally, I think the Single part is more out of the norm than the apartment part. Plenty of mid-30s people live in apartments, but most people couple up by then.

You must not live in DC.

Unless you're clearly living way beyond your means (i.e. flashy car, very expensive clothes, going out all the time), I would think you're either:
a. hoarding cash
b. not wanting to stick around

I would simply think they have other priorities besides home ownership. Do you, OP.

I think they're probably smart and are hoarding cash.

I don't think anything of them. I'm too busy thinking about my own life.

Personally, I think the Single part is more out of the norm than the apartment part. Plenty of mid-30s people live in apartments, but most people couple up by then.

In their mid 30s. Professional/white collar job. Single - no kids. STILL living in a 1 bedroom apartment.

(No I'm not judging others -- this is MY situation and I'd like to know what impressions others have of me bc from the questions/comments I've gotten, I have a feeling people DO have an opinion about this.)