[idoh]

Doesn't that justify a "yikes" response for the reasons you listed? It is abnormal for rent over a decade+ to be flat given inflation, so something bad has to have happened.

[ibejoeb]

The implication is that rent dropped. I think that's an entirely natural function of the circumstances.

[gameman144]

I read the "yikes" as being about those circumstance.

Essentially, "wow, the circumstances are so bad that this obviously bad outcome is happening. Yikes at those circumstances."