I’ve rented the same apartment since 1998. It’s not huge (we sometimes fantasize about having seperate workrooms/studios), and I’d rather if the rent went up a little less every year, but it’s home sweet home for me and Bill. Over the years, well meaning freinds have tried to point out what a horrible mistake I’m making. Why, they say, I’m just throwing my money away. I’ve got no equity, nothing to show for any of that rent that I pay out every month. I might as well just burn the money, or throw it down a hole.

My response has always been twofold. One, I’m not a huge trim the lawns, clean the gutters, maintain the furnace kind of girl. I like that building maintenance is someone else’s problem. In fact, I’m *paying* for it to be someone else’s problem. Rent isn’t just a monthly bribe to make sure one has four walls and a roof, it’s a payment for services rendered.

Two, I live in NJ. North Jersey, in fact. House prices, even now that the so vaunted real estate bubble is bursting, are out of our range. Property taxes are worse. This is not to say I will never own a house - but it’s not going to happen any time soon, and it probably won’t be in NJ.

Also, I’m frugal (sometimes to a fault) and I have no tolerance for “no money down” financing mumbo-jumbo. (Too good to be true and all that…) This is sometimes regarded as just an example of me being me, but lately when I open the paper, I’m finding myself grateful for not hopping onto the home ownership at any price bandwagon. Far too many people are getting burned.