Based upon the markets overseas, rents generally fall as well.I...

Based upon the markets overseas, rents generally fall as well.

I guess if you loose your job and you rent you can't afford it, or if you have a mortgage you can't afford it. So its expected there will be consolidation in both the rental and owner-occupier markets.

I believe there is often a surge in the number of rental vacancies as prices go down. Normally the knee jerk reaction from owners is if they can't sell it, they will rent it out instead (until the market recovers . . )