for feeling like a freak because we rent?

[2to3]

Fell in love and got pregnant before finances were ever really discussed. Went from sling to well off, had some savings, but then recession hit and we're barely getting by. Have great kids, strong marriage, a bit of cc debt but not very much, same with savings. We live in SW London surrounded by property we could never afford. Paying crazy rent and feeling sad/like a freak that we still haven't bought anywhere and maybe never will. I know I'm not alone but I do feel we are unusual for not having bought yet (late 30s) and quite vulnerable as the economy is in deep shit. AIBU?

"A lot of people who've rented long term or bought late will come unstuck because the assumption in the UK is that you've got no housing costs at retirement. Pension levels often assume you can live off a small sum because you will have paid off your mortgage, even if you haven't cleared it, you'll be able to downsize and clear the debt, buying something small with no mortgage. If you haven't done that, you do need to save more towards your retirement as you will need more each month than someone who's housing cost free."

Indeed that is true. But because of the silliness of the financial services industry, what you've written applies to a lot of supposed 'homeowners' as well - i.e. those on interest only mortgages without any repayment vehicle in place. I know quite a few such people, and their 'plan' is dependent on the belief that house price inflation will save the day.

It's another ticking timebomb.