<div class='quotetop'>QUOTE(Pauldo @ Jun 8 2006, 09:51 PM) Quoted post</div><div class='quotemain'>
But you pay rent for a lifetime and then walk away owning nothing [img]style_emoticons/<#EMO_DIR#>/huh.gif[/img]
Or, you pay a mortgage, at comparable monthly costs to rental (but decreasing, relatively, as years go by due to inflation) and end up with a house worth far more than you paid for it.
Then you sell it, buy a £30,000 palace in the PI and still have a hundred grand or more left [img]style_emoticons/<#EMO_DIR#>/biggrin.gif[/img] [img]style_emoticons/<#EMO_DIR#>/laugh.gif[/img] [img]style_emoticons/<#EMO_DIR#>/rolleyes.gif[/img]
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I agree with what you say as you could pay rent for years but end up with nothing to show for it.
More and more people over here are buying houses just to rent them out and using that as their pension.
Where i live in N.Ireland my city is the most expensive place to live and the house prices have gone up by 44% in the last year according to a recent survey.
A guy i know owns 4 houses and rents 3 of them out and i would guess he has already made a few 100,000 profit just in the last 5-10 years.
john
