rent now , page-6

so when will this occur?

My guess is that the smarter of the people sitting on $200-300K short term paper profits are going to start taking their gains soon if not already.
This will be followed by the ones who read the papers and realise the trend is changing. They should still make a decent return or breaking even for the laggards.
The stubborn believers of the property myth (who were probably the most recent buyers) will be the biggest losers with most of them having to declare bankruptcy on advice from their adviser when they're in serious negative equity with the net rent not even able to pay the interest on the loan.

My opinion only.