CNN Money: As home prices fall, rents flatten

Home prices dropped last year in most cities around the nation, and now rents are flattening out in many of the markets worst hit by the housing downturn. The median monthly rental bill rose just 0.5 percent in 2007. National rent increases had averaged between 2 and 3 percent annually the previous several years. Instead of selling at a loss, BTL investors are now renting them out. ------ San Francisco and New York are exceptions where "massive demand" more than offset increased supply. These cities compete in a "global market" and by world standards they're still relatively inexpensive for foreign currency-based consumers taking advantage of a weak dollar. ------ I guess that means London won't be falling either?