My neighbors may look down on us as renters as I pull up in my 08 Lexus but the fact is I drive a nicer car than they do and that really pisses them off. Honey, why does the 30 year old renter drive that car and I don’t?
Bottom Line: It is not you, it is the fact that they are screwed and my pay an extra 1/2 million $ in interest over the next 20 years because their phantom equity is gone. Their subconscious is jealous of your situation.
We live in Temecula and rent a beautiful house . . . .and have seen the condo we rented two years ago drop 60% in value. . . .sixty percent. How do you recover from that?
Every we know is screwed. . . everybody. And those that rent really can’t afford to buy. Only my wife and I and one other couple we know decided that this was an irrational bubble three years ago.
The 80/20 loans are coming home to roost so you should start to see the economic cracks. . . auto business and retail is going to hell. . . so your neighbors should be laid off real soon.
Be thankful you have cash, no liabiliy and are employed.
