Just when home owners thought their misery index was rising, renters may also experience a proportionate, though probably less financially devastating, hike in housing costs.
If you're paid $2000/mo. in rent last year, that could rise to $2138/mo. in 2007, or about $2000.00 paid over 12 months.
Is an increase in rent better than the risk of borrowing money from a bank to "own" a liability (home or condo) that will likely declining in value over the next several years in OC?