Very interesting. Hopefully a reporter will investigate the rents’ trend in apartments vs. condos vs. SFHs, which I believe are different beasts.
Many Piggingtonians are biting the bullet and searching for a house to buy based on a favorable (or nearly neutral/favorable) rent vs. buy calculation. However, as the recession and deflationary environment get worse in 2009-2010, watch our for declining rents.
You may still find out that you grossly overpaid for a house if rents continue to drop substantially.
