Not used to that term but the ROA is <3% from the rent component. Doesn't that make a ratio of 33?
Anyway apart from that yes prices have to fall.
Some friends of mine just passed on the latest rent gouge from their agent and will be sharing. They were paying $750/wk and the new share rent will be $280/wk.
Apparently they told the agent during the 6 mothly inspection and he looked a bit droopy in the shoulders.
