I would think that with so many people permanently displaced this will change the supply and demand for rental units. WIth more people needing to rent I would thiunk this would allow for an increase in rental prices.

If the rental prices reach a new ground it changes the rent buy equilibrium.

On the jobs front constuction and builders are going to have business up to their eyeballs.

Additionally with government intervention and encouragement to lending institution to assist with the mortgage mess you may housing decline could easily decelerate and plateau earlier than people think.