Rents, like a lot of things, tend to be awfully sticky on the way down. I think we’re much more likely to see a few years of flat-to-very-slow increases in rents rather than a crash. There was a huge jump in rent prices in 2011, while this year’s increase seems pretty small. But yeah, I don’t really expect rent prices to collapse unless unemployment starts shooting up again.

I will add that the SFH rental market seems a lot hotter than the condo/apartment market.