Just wondering how many of your guys rent where you live or are owning by paying a mortgage? We used to own in the UK but got screwed by the market at the time and by peer pressure to get a house (bought at the peak, sold when going down etc) as we emigrated to New Zealand. Since being here the housing market is silly and with the fact that most 1st time homes are circa NZ$400k and those are crap quality and you also need 20% deposit, the misses and I are kinda stuck. Everyone we know is in the same boat, all renting with zero chance of being able to save the 20% ($80k) deposit in the time that houses are going up in price like crazy with no more being built. Our current rental has just been put up for sale buy the owner but we can't afford to buy as we would be totally outstretching ourselves which is something we are not willing to do when the housing market is so voliate, and after being bitten in the past like this. Anyway, just wondering what its like in the rest of the world? Do a lot of you rent and is so why and are you saving for a house etc?