PW there is nothing wrong with renting at all. The point of my post is as follows:

1 – We are not near the bottom yet.

2 – People have different priorities for buying. Renting may be fine for some people, but may totally suck for other people.

My family is NOT happy renting. We cannot do what we want to the home we rent. We are not motivated to pour money into improving it because we do not own it. We have had to move from previous rentals because the owners decided to sell after the lease expired and the owners in all cases were VERY slow to respond to problems we had. Having alot of pets makes severely reduces the selection of homes for me to choose from. I don’t like to rent but I do it. Does it ruin my family harmony? No but would my family be happier with a home of their own? Yes. Would it be nice not to have to move if my landlord wants to sell? Yes. Would it be nice if my landlord fixed the fence out back so my dog wouldn’t keep getting out? Or if he fixed the shower upstairs? Yes it would. I have gone round and round with him on these points. Is it easy to move again with kids and 2500 sf worth of furniture and grandma and pets? No it is not.

To say that family harmony is not possible without buying a house is actually short sighted on your part. Family harmony is unique for every family and for you or for me to apply our own portrayal of family harmony to another persons family really is not realistic.

Again, this is my point… not so much about renting in general, but that people should not rush to judge others because what is right for them should be right or acceptable to others.

You see what I am saying?

Again, no argument that a bottom is not near yet. Nor that renting is not fine for many people. Renting is fine for many people. Yet buying may be as well. I am not advocating buying or not buying, just that I understand why people do indeed buy in the face of a declining market.