If you are thinking about selling its not a bad time either. Homes are getting multiple offers right now and going quickly over asking price. Depends on your needs at the time.
Hope this helps
I would never counsel a person to lose money...if it can be avoided! On the other hand..if you have an investment that is draining you financially and disaster is on the horizon, then by all means you must consider cutting your losses.
It all depends upon you and your particular circumstances.
Given the Real Estate Market that we have been in for the last several years, there's no telling how long it will take to recover. Some economists say next year...others say ten years!
Being a landlord is not for everyone.
Landlords sometimes, even when they properly screen, get bad tenants that don't pay, constantly pay late or may thrash the property.
But most tenants do pay and on time, most don't thrash the property and there are good property managers if the landlord doesn't want to deal with the day to day.
Values are constantly fluctuating, so the only money that can be made or lost is what is realized at the time of sale, everything else is wishful thinking because you can not lose (or gain) what you never actually have.
I am a big believer that one of the best ways to build wealth is through real estate; but because of the last few years of lightening fast profits and then losses, most newbies do not understand that building wealth through real estate is usually earned by long term holding of property.
The only major regrets that I hear from people that have been in the business a lifetime has been that they wished they didn't sell this or that piece of property. (One example is my husbands father, he sold a home in Torrance CA for $175k back in the late seventies; today- even after the 'losses' of the last few years, that property is worth around three times as much).
There will be situations where someone HAS to sell; but, if you don't HAVE to, renting makes sense.