Time to sell and Rent?

HeWhoDares

We seem to be hearing a lot more about "Rising Interest Rates", "Unemployment Concerns", "Higher Rate Savings Accounts", "Record bankruptcies", "Record Debt Levels".....

My question is: Has the housing market been the release valve for all of these factors? Now that Interest Rates, Inflation and Unemployment are starting to show signs of increased pressure - combined with record credit card debts and high mortgage borrowing - the pressure release that the housing market has been starts to cool - and in turn go cold [CRASH].


With higher I/R, Inf & Unmp, the housing market by 'economic law' will suffer.

Is it the right time to sell and rent - and wait (probably for 5-7 years!?!)

Rover

Yes, if you can find a buyer at the right price by the time you get it on the market.

Time2Go_25

I guess that would depend on why your buy a house, if you buy one to live in and make into a home then why sell. If you buy it to make a couple of quid on then by all means sell up and move into rented, we'll keep our fingers crossed for you that prices don't continue to rise and rise

Rover

pdel61 wrote: »

I guess that would depend on why your buy a house, if you buy one to live in and make into a home then why sell. If you buy it to make a couple of quid on then by all means sell up and move into rented, we'll keep our fingers crossed for you that prices don't continue to rise and rise

You can cross what you like bud, will not make any difference.

amcluesent

Selling and renting is one way - or you could stay put and use spread-betting on the average house price index to gain if you are convinced prices will fall.

£100 for every 0.1% movement in the index and a 20% correction will give you £20,000.

Of course, if prices go up...:(

KingKenny

Rover wrote: »

You can cross what you like bud, will not make any difference.

:rotfl: :rotfl: :rotfl:

Gorgeous_George

It's difficult to gamble on a home. I certainly would not gamble on ours - Mrs GG would kill me!

That said, if you are happy to play the housing market like many people use the stockmarket, I believe that you will gain.

Buying again in 5 - 7 years may still lead to negative equity. A crash/correction like the one in the early 90s would be much more painful today and falling prices could be with us for 10 years or more.

In short, if your house is just a commodity, go for it (but don't blame me oif it all goes wrong). I'm 90% certain that prices will fall 30% before they rise by 30%.



GG

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Gorgeous_George wrote: »

It's difficult to gamble on a home. I certainly would not gamble on ours - Mrs GG would kill me!

That said, if you are happy to play the housing market like many people use the stockmarket, I believe that you will gain.

Buying again in 5 - 7 years may still lead to negative equity. A crash/correction like the one in the early 90s would be much more painful today and falling prices could be with us for 10 years or more.

In short, if your house is just a commodity, go for it (but don't blame me oif it all goes wrong). I'm 90% certain that prices will fall 30% before they rise by 30%.



GG

If I owned I wouldn't choose to go into rented accommodation, but I wouldn't buy at the moment either. The property wind is beginning to blow in another direction...