“Can the rental market actually put pressure *against* correction in the RE market?”
Absolutely. Doesn’t everyone compare the cost of renting versus buying when deciding to go from being a renter to a homeowner ?
Rent rates are also a proxy for wages. If wages go up and rents go up, it will soften the home price decline in nominal (not inflation-adjusted) dollars.
Now as for predicing rental rate trends, they have recently accelerated, but who knows where they go next ? Depends on employment, growth vs recession, local economy.
