How many people here have sold to rent (anticipating a crash)?

Toto

I sold to rent too. For me it made absolute perfect sense , I had an interest only mortgage, a ton of debt from starting (a now thriving) business and enough equity to clear the lot. My rent is £500 a month cheaper than my mortgage was for a bigger house in a better part of town, I am debt free and able to save.

It took me a while to get my head around the idea of not owning a house, but I am already seeing a downturn in my area. Houses are still selling but not as quickly and prices are certainly dropping. But, I would have sold my house even in a rising market, I was renting my own house from the bank and paying through the nose for it.

As for the future, I don't know what we will do. We might buy again in this area, we might move to another area, we may even go back to Canada. I thought I would feel less secure renting than I did owning but to be honest I feel more secure in that I have the choice and I am in control. We do have capital, but it's tied in a business so i'm now saving each month to provive a deposit should we choose to buy again, where ever that may be.

Ms_Piggy_2

franklee wrote:

Of course we don't *know* we are at the top. That's for each of us to make our own minds up about. I am willing to put my money down and say we are. If others aren't then that's fine.

So when do you think prices will start dropping? My own house is SSTC, so I'm hoping it won't be for the next six seeks or so. :rotfl: