Welcome to Switzerland, land of happy renters

I'm traveling in Europe at the moment. What a different world.

In Zurich, Switzerland (rated as the best city in the world in 2003 - http://news.bbc.co.uk/2/hi/europe/2815625.stm), about one third of resident own their homes. The rest rent. Why? I asked someone from Zurich.

"We choose not to own because it would be too expensive. Property taxes are high, and there are many problems in maintaining a property. Why would you want to own?"

Let's remember that Switzerland has an unemployment rate of only 3.1% (and Zurich's rate is even lower). House prices in Switzerland have only increased 19% since 1997, and that's despite the fact that in Switzerland you can write off your mortgage interest.

Interesting. And you know what really blew me away? My friend from Switzerland said, "In Zurich, you can rent very nice flats. Why would you want to buy one?"

Perhaps this is what happens in a society that has been around since 1291.