All makes sense. Over supply of rentals is going to depress rent price. Doesn’t matter where it is?
BG can you explain your comment “If you need a home for your family now, ignore it at your peril.”? Do you expect home prices to increase dramatically soon, and if so what perils are you so fearful of. With so many complaints from buyers of no inventory, and prices rising pretty quickly, I’d continue to rent especially if rents are softening.