Another housing market question

[sunnysan]

Sold

I sold my flat last year which was agood move

But to be honest the sh1te I am having with renting at the moment I woudl rather have my own place.

[VectraMan]

In a place like london you can rent better than you can buy at the moment.

Britain.

Certainly my rent is still half what the mortgage would be to buy the same place. If you rent out your house rather than sell it, unless you've got lots of equity you're unlikely to cover the mortgage, and that means you're just losing money.

[sunnysan]

Renting

In a place like london you can rent better than you can buy at the moment.

However, renting has its pitfalls, read my thread Renting Woes to see how bad it can get.

There are good deals to be had but must be careful

[Pickle2]

That sounds stupid to me. Why not rent it out for a few years and wait until the next boom before selling. Surely only an idiot or someone desperate sells at the bottom of the market?

But we are nowhere near the bottom of the market. For fooks sake, we are about 10% from the peak, there is a LONG way to fall yet to get back to long term trend.

The merry-go-round of you rent to me and i rent to you just so we can pretend our houses are worth bubble prices forever is doomed to failure. Obviously.

[oracleslave]

Sell cheaply now and rent.

That sounds stupid to me. Why not rent it out for a few years and wait until the next boom before selling. Surely only an idiot or someone desperate sells at the bottom of the market?

[Pickle2]

Thoughts?

Look, its not going to get better any time soon is it? Prices are going to keep falling. Better to cut your price drastically now to get a sale, than to chase the market down and sell for even less in x years time.

Sell cheaply now and rent. Then buy back even more cheaply in 5 years time.

[DimPrawn]

Can I assume that with the current housing market being so bad, and first time buyers holding back, that the market for renting is currently pretty good?

I'm just considering options - if we can't sell, we're thinking of 'renting and renting' - i.e. renting a new place for ourselves, while renting out our current place to someone else. It would mean we get to live in the place we want for the time being, while still keeping our property for when times get better.

Thoughts?

I personally know two people doing just that. One to move up the property ladder as it were and another one downtrading to enable them to pay off debts.

Kind of makes sense but how long is the rental market going to boom if:

A. Everyone is renting out their property
B. All the Polish go home to a better economy

[oracleslave]

Can I assume that with the current housing market being so bad, and first time buyers holding back, that the market for renting is currently pretty good?

I'm just considering options - if we can't sell, we're thinking of 'renting and renting' - i.e. renting a new place for ourselves, while renting out our current place to someone else. It would mean we get to live in the place we want for the time being, while still keeping our property for when times get better.

Thoughts?

Boomed!

[Gros]

Can I assume that with the current housing market being so bad, and first time buyers holding back, that the market for renting is currently pretty good?

I'm just considering options - if we can't sell, we're thinking of 'renting and renting' - i.e. renting a new place for ourselves, while renting out our current place to someone else. It would mean we get to live in the place we want for the time being, while still keeping our property for when times get better.

Thoughts?