Rent or Own?

I overheard a woman and man talking about renting out apartments.  It sounded like the woman was a landlord, saying she'd move to the front apartment and charge $1200 a month for the basement apartment.  After listening some more I made the assumption they were brother and sister or at least related. I also thought they were older than me by their thick New York accents and knowledge of real estate.

I turned to look at them on my way out. The guy was probably in his mid-20s.  I couldn't tell about the woman. She could have been early 30s.  Why does age matter?  One of things they said was, "yada yada yada...he's such a loser, he doesn't even own anything."

When did renting make a person a loser?

Furball and I recently discussed this in regards to our parents.  It seems to me their generation's measure of success was a steady job, marriage, kids, own a home, a car, and maybe an inground pool.  I guess you could say it's the same nowadays too, but for me, single and living in NYC, it is not.  To me, a truly successful person is happy and inspires others to by happy.  That's it.

Two things struck me as odd about their conversation and estimated age range.  One, if they do own buildings around Astoria, wouldn't they have gotten some sort of financial help at their age?  Yes it's quite possible they were better with money than I am.  An old friend bought a condo in NJ around 27, but that's not an apartment building in the city.  Two, isn't that a rather outdated way of thinking especially in NYC and considering the tumultous economy?  Obviously owning has it's benefits, but if you can't afford everything that comes with owning, why bother?

I'm not angered by their opinion at all, I just found it interesting.  I'm not sure if I'll ever own an apartment or home.  I can't imagine leaving NYC, but if I have kids I might want to for better school systems.  I would love a backyard, even if it's just big enough for a grill and garden.  My parents have owned their home in Jackson for 26 years. They plan on renting in Brooklyn when they move, so that they don't have to deal with keeping up the property.  Seems smart to me, but then again...

I'm a loser baby, so why don't you kill me...