A few years ago this discussion wouldn't be happening. It is (or was) the American Dream to buy a home and pay a boat load for it during the prime years of your life. The years when you are starting a family, have a secure job and could afford the nicely wrapped payments mixed between the two weeks of vacation you were given from your employer. Over the past two years the mindsets of many people (including myself) have changed.

For some, time has become more important than income and material things. Experiences, people and memories serve as souvenirs from a life well lived. No longer were we subject to the white picket fence that meant we had to settle down in one place for as long as possible.

In the workshifting, lifestyle design and internet business world, we are coming to a piece of mind that renting may actually be a better option to this lifestyle. Renting allows us the freedom to move from place to place, traveling the country or the world and putting our saved monies into other investments, or even in experiencing more things. A recent article from Housing Watch notes that "a mere 55% of adults say buying a home is the best investment families can make."

Personally, I still believe in the power of real estate investments. But my mindset in working from home, the beach or the park tells me that 6-12 month rentals are not only freeing mentally, but they can save you a ton of money in the short term to enjoy your time. I am not pretending to be an expert in real estate (I read everything I can get my hands on, but still get confused), but I can see that investing in a home that is depreciating faster than the interest is rising is not a good financial plan for my own future. Much like many of us have made the decision to work location independent, whether for a company or out on our own - we did it to better our situations in life.

A recent article from the LA Times echoes that fact for people in upside down mortgages as proposed by Professor Brent T. White:

Go ahead. Break the chains. Stop paying on your mortgage if you owe more than the house is worth. And most important: Don't feel guilty about it. Don't think you're doing something morally wrong.

Renting may be the answer, but maybe its not. In my own life, I am torn between these 2 worlds. There are benefits and advantages to both. What I want to do is turn the conversation over to the community and see what you think of the situation.  What do you think about the following questions:

• Are you renting or do you own a home?
• Have you thought of foreclosing, a short sale, etc?
• How do you manage your travel and work schedule with your living situation?

Let's learn from each other in this community. To buy or not to buy, that is only part of the question!

Photo Credit: Azhure