Off to a hockey tournament but an article at the Los Angeles Times caught my eye this morning. Back in 2005 the pressure to buy a home was intense on the 20 somethings. Now the tables have turned and those that did not buy have a name, the smug renter. Instead of worrying about when their ARM will be adjusting or other homeowner issues they are enjoying their lower rents and flexibility.

An interesting navel gazing article, perfect for a Saturday morning read over a cup of coffee to see how the snarky elite are thinking.

A new elite is emerging: the “smug renters.” Whereas real estate gloating was once dominated by those who picked up properties back in the early 1990s — when apparently you could buy a mansion for the price of a Saab — plenty of non-owners are now getting in on the self-righteous act. Some are former owners who cashed out when prices peaked. Others, presumably, are among the people I saw at open houses back when I was shopping around in 2003 and 2004; unlike me, they didn’t buy anything.

Just thinking back to that time makes me feel uneasy. Even though it seemed open houses were a bigger draw on Sundays than church and golf combined, there was always a question as to who was going to jump on the high-speed train and who was going to stand back and wait for the inevitable derailment. As a result, many of us who bought property did so with the nagging shame known to customers who pay full price because they’re too impatient to wait for a sale. Meanwhile, the smug renters have been living it up in far-nicer homes than they could ever afford to buy. via the Los Angeles Times.

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