The decline in home prices would inded be muted a bit.
So, instead of dropping 25-35% perhaps the decline is muted to 10-20%.
However, a 16% increase in rent for SFR seems a bit high !
Since there is no additional data in the article I suspect that this is a statistical glitch or perhaps a noisy one-month number. Better to look over longer-temr averages.
Either way, rents for all units (incl. apartments) are increasing slightly faster than overall inflation. If the 16% holds up, and continues to go up at 4-5% per year it would decrease the amount of $ that home prices would have to fall to come back into equilibrium (assuming that somehow wages catch up !).
