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Rent is generally more than mortgage.
For instance, my last place was 950 mortgage but was rented for a bit at 1400 odd.
So options are...
Pay more to not own a place or pay less and own a place, regardless of prices going up or even down.
If you need a better example, get £1500 pounds in cash and give it to a random stranger in the street, take another £1500 pounds in cash and pop it in your back pocket.
Guess which is renting and which one is buying in that metaphor.
BTLs are only profitable if you have a large amount of cash as mortgage repayments are no longer taken into account on tax on earnings, so if you get £1500 rent but have a £1500 mortgage you’ll actually be down each month. I assume folks with two properties are higher earners meaning you’ll be in the higher tax bracket so down near £700 a month.
Unless I’ve missed something? I’m usually pretty bad at this kinda thing...
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chrisbmx116
Bit of cognitive dissonance in your post. If housing is a bad investment (ie BTLs are no longer profitable with a mortgage), then why would you buy a house, it makes no difference whether it’s your own or someone else’s. Rent and divert the savings from mortgage principal and maintenance into another asset class.