We bought our first home in the mid-90's. It was tiny and relatively inexpensive. By the time we had 4 kids we were way too crowded and dreamed of a larger home. My husband then had some bad luck in his career with a layoff and then underemployment. We ended up in debt. So, several years ago we sold our home and paid off all of our debt. We now rent a home that is much larger than the home we had. We pay more than we did for our mortgage, but not an extravagent amount and it has been so helpful to have a home that fits our family and that we can run our business out of. We have had a good year business wise. We've been able to pay off all of our debts, but we have not saved much money yet. It'll be a while before we can buy a home again and by then we will also have kids going to college. Is it BAD to not own a home and just rent? Oh, we rent a home from a relative and have no risk of having to move or a huge rent increase.