Based on my rent vs. current value, we needed a 55% reduction in my neighborhood. We dropped some, and now need a 45% reduction in home prices to get to 10x annual rent.
You can rent a 1800 sq ft house for $2200, a 2200 sq ft house for $2500, a 1600 sq ft townhouse for $1800. Every unit here is rented out – no vacancies.
