foreclosures in SoCal Paradise

While looking for the map/location of a friend to visit locally, after a web search, I noticed the third link from the top - Yahoo Foreclosures. It was a map of our area, SoCal Paradise, with the houses in different stages of foreclosure. I noticed a house that was in the same block as another friend's house, a happy owner of a fixer-upper since this Xmas. It was a 4 bedroom, 2 bath, for $750K. Hmmm... our friend paid $800K for a 3 bedroom, 2 bath fixer upper. Interesting... and fun :-)
DW pointed out this article today on MSN - "Why rent? To get richer"
An interesting, and realistic look at things. This paragraph summarizes it for me:

"What about the pride of homeownership?"

It's not for me. I define ownership as no longer having to pay for something and being able to do as I please with it. I own my coffee maker. Homeowners must pay taxes each year even when their mortgage payments are done. In certain markets they can't even make changes to the houses they've paid for without seeking the approval of others. Personally, I feel the pride of ownership for shares of businesses, and I'm proud to occupy a nice place while leaving the burden and poor returns and maintenance to someone else.

Being a naturalized American, it is so interesting to be able to analyze this society, and the level of brainwashing that exists about the "American Dream", and owning a "home". My initial reaction was always - you don't own it, the bank does, and does the word home imply that we , the renters, are homeless? Anyway, think about that.