statinstoinker, on Mar 10 2008, 01:43 PM, said:
I'm not a landlord, however I'm sure someone will see If you can get a house cheep on the back of someone elses misfortune and rent that property out for more than the mortage costs its a no brainer for a long term investment. I'm not saying everyone should run out and invest in property but if the figures stack up and the deal stands on its own two feet then go for it. The time to make money in any market is when nobody wants to buy and you can get a bargain.
If all the houses started dropping to this rate, what makes you think there will be people out there willing to rent? A lot of people are only renting as they can't afford to buy in the current climate.
Also, ask yourself this - if this house is selling at this price already and crashes tend to take a few years to unfold, then maybe it will be worth less in a few months' time?
I'm not going to try to convince you of the above though as it's up to you. I would just be steering away from anything to do with property during a property crash. Near the end, maybe, but imo, this is far too soon to be near the end.