I guess that depends where you are looking. In my neck of the woods, you can buy a decent, entry level house for around 400k. If it were to come down 10% that would be 360K, with just 10% down @5.68 (current standard interest rate according to bankrate @ http://bankrate.com/# ) that makes the payment around 1900 P.I., plus taxes and insurance. Rents around here are about 1800-2200 dollars so it makes rents a little closer to mortgage payments.
However, I DID say I thought house prices would stagnate. I believe this will happen until incomes catch up . Now I don’t KNOW anything, but I BELIEVE it will go something like that.