Just watch out for the dead cat bounce.. my understanding is that it’s better to wait for an obvious fundamentally strong correction before entering the market.. the % gain you miss out on is small compared to the risk you have to take trying to guess where the bottom is.

You can also do what powayseller and some others are doing.. that is sign a longer than normal rental agreement say 2 years or so.. by that you can sometimes lock in your price counting that the rental rate will go up.

For me, I always go month to month.. I prefer paying a premium for the flexibility of being able to move whenever I want.

For the people that haven’t heard the dead cat term before:
A dead cat bounce is a term used in market economics to describe a pattern wherein a moderate rise in the price of a stock follows a spectacular fall, with the connotation that the rise does not indicate improving circumstances. It is derived from the notion that “even a dead cat will bounce if it falls from a great height”
http://en.wikipedia.org/wiki/Dead_cat_bounce