Most of my net worth is tied up in real estate. I view renters as people who probably don't have as much net worth. I understand this is flawed logic but it's my impression.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would probably think you don't want to settle down. We are mid 30's with 2 kids and 1 on the way. We have 2 homes and 3 cars and funding retirement and college funds.

Isn't that nice.

I was just implying that when you are married with kids, you tend to be more focused on security. You have different needs and goals. Men tend to work harder when they have families to support.

My single friends are not thinking about paying for college for 3 kids. They don't need a big house with enough bedrooms to allow family to come visit their grandchildren.

dude, that's not "security" - that's just being wealthy. which is great for you! congratulations!!

Not the PP -- but I do think it's emotionally symbolic of security to a lot of people. I have a dear friend who divorced and moved out of a house into an apartment with her kid. When she was able to buy a townhouse a few years later, she really felt like she was back on her feet again. It's been a huge boost for her. For her, it was primarily emotional, not financial.

If owning doesn't have that emotional weight for you, then kudos! You can make financially sensisble decisions without being hampered by an irrational need to own.

Signed,
Someone with an irrational need to own

pp you are responding to - i am not saying that owning a place to live isn't a symbol of security. i'm saying owning two houses and three cars isn't just security; that's wealth.

+1

Anonymous wrote:Why would a single person buy a house? They only need one bedroom, and it is much cheaper to rent a one-bedroom apartment than to pay for a 2-3 bedroom house or condo. Keep renting until you partner up, then make a joint decision about where to buy a home.

+1. Plus you have double the income then.

5:24. Paragraph 2 "savings of" not "Savin gas"

I'm 36 and not a homeowner. Engaged. I don't live in the DC area--I actually live in a pretty small town. (I enjoy the various topics and anonymity of this board, which is why I'm on a DC board.)

I was able to get a nice place with great amenities for a few hundred dollars cheaper than the usual going rate in my town, and it also includes cable and internet. Because of the Savin gas of cheap rent and internet/cable, I'm able to put more money into paying off things and my savings account.

I divorced within the last three years so part of it has been figuring out a "new financial normal." Having been thrown for a loop with the divorce, I'm now slightly paranoid about saving money and having enough money and my current situation allows me peace of mind because of the fact that I'm able to save.

I have never been a big status person so it doesn't matter to me what people think; I don't need to be a homeowner to feel like I've "made it" in life. My time will come to buy a house. Now is not my time.

I've thought about running for a particular office in my area which would require residence in the exact municipality where I live now. It's a small municipality so options to buy are a little limited, so I don't want to buy a house just for the sake of buying a house, and it not be exactly what I'd like.

So, I know some of my reasons don't have much to specifically do with DC like commutes, etc. but these are my reasons for being a mid-30's renter, for those of you who are interested in some reasons.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would probably think you don't want to settle down. We are mid 30's with 2 kids and 1 on the way. We have 2 homes and 3 cars and funding retirement and college funds.

Isn't that nice.

I was just implying that when you are married with kids, you tend to be more focused on security. You have different needs and goals. Men tend to work harder when they have families to support.

My single friends are not thinking about paying for college for 3 kids. They don't need a big house with enough bedrooms to allow family to come visit their grandchildren.

dude, that's not "security" - that's just being wealthy. which is great for you! congratulations!!

Not the PP -- but I do think it's emotionally symbolic of security to a lot of people. I have a dear friend who divorced and moved out of a house into an apartment with her kid. When she was able to buy a townhouse a few years later, she really felt like she was back on her feet again. It's been a huge boost for her. For her, it was primarily emotional, not financial.

If owning doesn't have that emotional weight for you, then kudos! You can make financially sensisble decisions without being hampered by an irrational need to own.

Signed,
Someone with an irrational need to own

pp you are responding to - i am not saying that owning a place to live isn't a symbol of security. i'm saying owning two houses and three cars isn't just security; that's wealth.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would probably think you don't want to settle down. We are mid 30's with 2 kids and 1 on the way. We have 2 homes and 3 cars and funding retirement and college funds.

Isn't that nice.

I was just implying that when you are married with kids, you tend to be more focused on security. You have different needs and goals. Men tend to work harder when they have families to support.

My single friends are not thinking about paying for college for 3 kids. They don't need a big house with enough bedrooms to allow family to come visit their grandchildren.

dude, that's not "security" - that's just being wealthy. which is great for you! congratulations!!

Not the PP -- but I do think it's emotionally symbolic of security to a lot of people. I have a dear friend who divorced and moved out of a house into an apartment with her kid. When she was able to buy a townhouse a few years later, she really felt like she was back on her feet again. It's been a huge boost for her. For her, it was primarily emotional, not financial.

If owning doesn't have that emotional weight for you, then kudos! You can make financially sensisble decisions without being hampered by an irrational need to own.

Signed,
Someone with an irrational need to own

so back to the original question - when you first asked, my thought was: i wouldn't give it a second thought. dc is so preposterously expensive, and transient, and there are a zillion nice apartments. so buying is fine but renting seems completely unremarkable.

having procrastinated my way through six pages of thought, i suppose that if you really asked me to think about what you renting likely means - i guess it means that you aren't ready to settle down in dc yet for one reason or another. either you think that your life situation is going to change and that would lead to wanting a different place to live. or you don't have the money yet to buy in a place where you'd actually want to live (which was my situation in dc - i could live in a much better part of town as a renter than as a buyer). or you think you won't stick around in dc for the long haul.

but really, it seems unremarkable to rent an apartment in dc, no matter your age. i'm surprised to hear that so many people are remarking on it.