Anyone heard any arguments for a ‘squeeze’ in the market – the period of time when rental rates are shooting up but home prices have not yet reached attractive levels? Not only will home prices still be unaffordable and also unattractive due to the continuing decline, but rentals – the safety valve for those who can’t buy – will also be out of reach. I’m not sure if this is valid or not, but this notion of a ‘squeeze’ period just occurred to me this morning. As an example, I was looking at homes in San Marcos today and 600k is still too much for me. I also checked out rentals and homes that would have been 2200/Mo last year are now 2500/Mo.