But there will still be the same number of (potential) tenants and houses, it is then up to the market to match the two. Unfortunately house prices in the UK have been manipulated by government and the planning process to keep prices artificially high to boost balance sheets. Housing is no longer seen as a place to live but as an (appreciating?) asset upon which the rest of the economy is pinned. House prices seem overvalued to the detriment of all, except the banks.
@Red899 Depends what you call middle class - is it all relative? does owning 2 houses that would in total be worth much less than a small flat in London make somebody middle class? So far, in my situation, only losses have been made (various high cost repairs needed), and the tenants have benefited from a warm, dry, safe and well maintained home, all at a very affordable rent with flexibility to their circumstances taken into account when getting rent paid. if that is preying on somebody less well off than I am, then "guilty as charged". not to mention that they have first refusal to buy the property as soon as they get themselves a mortgage/deposit together. In this day and age most working people will aspire to improve their circumstances, by whatever legitimate means they can, and if that makes a person middle class (again, whatever that is or means in these times), then middle class must be the vast majority of working people in the country.
Couldn’t say for sure without seeing the figures mate, guess what im trying to say is in an idea world we’d all own our own house and the “middle classes” would have to "profit" from something else. (FWIW I don’t care if someone’s lower middle or upper class as long as theyre not a tit)
Personally I think the only way you'd make money out of a few rentals is if you filled them with a certain type of professional tenant, then invested in a big hat, crocodile skin boots and got a cadillac...
