You should tell your friend this. There are 5 types of people:
1. Squatters.
2. Real renters (people who know they can’t afford to buy & act that way).
3. Renters who pretend to be homeowners (homeowners with exotic mortgages).
4. Real homeowners (homeonwers who can actually afford their house).
5. Homeowners who pretend to be renters (renters who have money to buy but are smart so they are waiting for the bubble to pop).
Then ask your friend this (while you are smiling, of course):
