patrick.net

Apartment vacancy rate PLUMMETS...to pre-recession levels. You know, back when any clown with a pulse could overextend themselves to BUY a house.

From calculatedriskblog:

Forecast: Rising Rents to slow House Price Declines
http://www.calculatedriskblog.com/2011/04/forecast-rising-rents-to-slow-house.html

I think [house]prices might fall for another year or two in real terms (inflation adjusted), but I agree that it is likely that nominal house prices will bottom this year.

Sure, rent-to-price ratios are key in determining what constitutes a 'correct' house price... but what will happen if we hit another of those gray recessionary thingys!