Very astute analysis privatebanker. I tend to agree, only because I’ve had friends rent out their places who did exactly what you’re suggesting. I was stunned when 1 couple got their place rented.
I agree with PD. I think things will stabilize (drop) starting in the Fall.
Plus, when the economy starts to turn, I’m figuring people will lose jobs, and leave, which means more properties (both rentals and for sale) will be on the market.