The "social cost" of renting in Vancouver has increased
Even though rent-versus-purchase math has long worked strongly in favour of renters, even moreso in the last few years, renters are not looked upon as fiscally wise and prudent, but rather as disadvantaged and unfortunate. This is not to say that this is fair, or right, it simply is the truth of what has happened here through the bubble. A renter confessing to renting in company not uncommonly gets responses ranging from pained grimaces, to condolences, to pity, to thinly veiled scorn. And renters can only imagine the opinions expressed when they are out of earshot.
Yes, there are places in the world where renting is the norm. And, yes, many of the superficially wealthy Vancouver owners have abused their RE-ATMs and have large invisible debt loads. But the fact of the matter remains that renters are seen as relatively disadvantaged compared to their owner peers.
As I once again move to a rental apartment, this discussion has been coming up again and again. Do we need a "renting is great" information campaign? Or maybe just a "f*ck owning!" campaign…