The question is this: Will rents decline? That will make the ratio change. There’s a thread here in Piggs OC – rents in the crapper.
It of course makes sense that if you can buy less than rent, then buy. Not there on the coast yet. BUT housing is reeally low in Temecula. And yet declines continue there. So are the rents declining right along w/homes prices there? I’m sure by now the cost to rent must be the same as to buy over in Temecula. And you would think you’d start to see an increase in prices. Not so.
