I predict rents are going to increase sharply. Landlords are hearing about the state of the market and know this is their opportunity. Rents in my apt. complex increased 10%! With list prices being cut quite aggressively on condos it may make sense buying soon enough, I would say in about a year. I know here in South OC there are 2 bedroom, 900-1000 sqft condos going for $380k or so. In a year I predict these will be in the 320-350k range. PITI+HOA on these will be just a bit more than renting 😉