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Originally Posted by glatt
But owning a flat wouldn't be so bad. Not many people will be buying the low priced houses out there, because the interest rates will be so high, they still can't afford to buy a house. That means there will continue to be a lot of renters. You should still be able to rent your flat out and make your money. Now if your idea of buying a flat is to sell it for a profit, then it won't work. But holding a flat and renting it out should be OK.
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But what if interest rates don't rise. And what if house prices fall to the point where the rental market diminishes significantly and it becomes harder and harder to lease the property? I know what you mean though. At least I would have a mortgage paid for me, which would be not real extra cost to me and would boost my credit rating significantly (plus it would be security for another loan for the bar or the self-build project).