[ex-Texan]

Rents are under a lot of pressure in Portland. The same old story told over and over again. House flippers, caught with their pants down, are forced to rent vacant houses. Rents went up late last year but market forces drove them down again. People decided to move rather than paying higher rents. Renters get upset with landlords and just walk away.

There is a house standing vacant about one mile away. I watched the original owners make a killing after slapping on one coat of cheap paint. Then watched the new owners throw a BIG party. They added some ginger bread touches and put it back on the market. For sale signs were posted for many months. Now the house is vacant again. Recently there has been new "upgrade" activity at the home. But it still is vacant. It has been vacant for about six months.

By the way, gold is back up again:

Gold Rises Over $ 12 per Oz

[palmer]

Rents are firm around DC. There are increases in desirable areas close-in, steady in the middle, and some drops out in tract mansion country. All in all a healthy market, plenty of demand and adequate supply.

[GodGunsGuts]

Yep, if rents actually drop, then real estate will have to fall even further to close the gap. Thanks for the gold link. I'm hoping we have seen the bottom. I'm still hoping for $700 plus by the end of the year.