Please call Washington and tell THEM not everyone should or wants to own a home. They will eventually but it will be when they are financially able.<quoted text>
Agreed. What you did was the smartest scenario.
It's basically what I'm doing now after shedding family house though--divorced now, I didn't need that big of a house any longer and I moved here from another area. I live in a rental in a decent hood, with a relatively low rent and toss the cash into savings that otherwise would go into repairs, interest, insurance, etc. I keep asking myself "do I really want to buy, given this market, and the fact I really don't care to remain in Ohio post-retirement?" The answer keeps coming up NO. Long term plans: move west or south (nearer kids), buy there post-retirement with cash. I may see something that looks seductive in terms of price, location, lifestyle but I wait a few days before doing anything. Then I get back to myself and remind myself "longer-term goals don't include remaining in Ohio."
I think a lot of advice/thought that was appropos to the 50s, 60s, 70s, 80s regarding finance is no longer fit to be used. Completely different world we're in. New normal so to speak.
Both of you offer sound advise to others who know the lifestyle they wish to live and have thought it through.