Kudos to you for having the courage to look at things the way they are. Many folks who have bought are in total denial about the current state of the market.
hey, if prices fall badly enough, i'll buy ANOTHER House and rent out the one i'm in now. 🙂Â
If you can afford the negative cashflow from renting out your current house, that's not a bad strategy.Â
I was suprised to see rents have gone UP in my area
The main reason that rents have gone up is because of the supply reduction. Many investors who previously rented out their houses have given up & let the lenders foreclose. These houses are currently vacant but are not available for rent. At some point in the future, the lenders will dump these houses a fire-sale prices & investors will scoop them up & rent them out. Then, rent will come down. Basically, rents have gone up because of an artificial reduction in the rental supply.
Of course, people who lost their primary residences to foreclosure also contribute to the rental shortage. But this is a minor factor.
