I don’t think that renters will pay to bail-out owners. Just like consumers won’t pay to bail-out manufacturers. They just find a cheap source somewhere else.

RE is not as easy as consumer goods to substitute, so owners can ask for high rents. They may get it in the short run, but as owners go bankrupt in the upcoming RE crash, rents will come down.

On a related note, now that RE inventory is plentiful and buyers have access to previous purchase data, I think that future buyers will resist giving owners much profit. That’s a phenomenon that did not exist 10 years ago. That in itself will keep prices down.