And also a person who was telling everyone a few years ago he'd sold his house because the bubble was going to burst and he would rebuy in a few years time when prices were half what they were then. He must have spent an awful lot of money on rent for absolutely no reason.
The house I'm renting at the moment is costing the landlord the same as what I'm paying to rent it, and I don't have any buildings insurance, pay for any maintenance and if the boiler/cooker/roof/other develops a fault I just phone the landlord and it's fixed.
100k house, £500 month rent. Assumed £25k 'deposit', 3% mortgage intrest or an ISA and 4% depreciation
100k*0.04 = £4000
Total = £6250
25k * 0.03 = £750
Rent = £6000
Total = £5250
Depends where in the country you are though and what kind of house, the missus' flat in Wokingham is still worth what she paid for it, and both neighbours are paying double her mortgage payments in rent, so for flats in Wokingham it's clearly the reverse situation to a house in North Yorkshire.