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It's never a smart financial move to buy a house you only want to live in for 5 to 7 years. The closing costs will go up in smoke. If where you are is a renters market, renting might make sense. But since the two of you already own two homes between you, the smart financial move is to move into one and decide what to do with the other.
If you can rent the other for more than the monthly mortgage+insurance+taxes, then it likely makes financial sense to rent it out for as long as possible. Take your time and pick tenants that you trust, it is by far the most important part of the process. Don't rent to anyone you have any reservations about. Look for young, responsible families. Avoid single people if possible.
If you really can't stomach that thought (someone else in your house), sell it now and invest the money. As it is, who knows what's going to happen to the real estate, financial, consumer, and job markets in this country in the next few months/years, and inflation rates.
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My thoughts on some things: - Driving Nannies: If I'm that far out of shape on the street, something has gone terribly wrong and by all means Mr. Computer man, come and get me.
- G2s: Rock throwing is like like a tramp stamp; although problematic, it's a sign of good things to come.
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