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Well " Rent It Out Instead " Denial

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Following on from the Sarah Beeney post this morning with the advent of so many people refusing to believe that their house may not be worth what they thought it was , the sheeple seem to think the smart thing to do is to " rent it out instead " of selling at a loss

I think this could be the second leg down later in the year or next year as more forced sellers come to the market that have previously rented out while enjoying low interest rates I know this seems blindingly obvious to a lot of you but it is lost on the sheeple

It will be an interesting time when rental values drop because of an over supply and lack of demand , interests rates go up along with unemployment and these people are left with an even bigger hole to fill with the gap between mortgae payments and rental income and negative equity , perhaps that may be the next mortgae scandal , those that do not tell the mortgage company what they are doing

To help the sheeple understand the perils of this it would be helpful to get this in the wider domain and with the media love of acronyms i thought " Rio's "would be suitable

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Yep, saw your idea for RIOs on the other thread, great acronym...I think it'll stick.

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Her name is Rio and she dances on the sand

Just like that river twisting through a dusty land

And when she shines she really shows you all she can

Oh Rio, Rio dance across the Rio Grande

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Is there a rental index or any evidence to support the amount of people that would like to sell but are renying instead ? or is there any signs or index showing rental price asked as oppoesed to achieved ?

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