[bondarchuk]

Either renting is so bad that people will still rather buy the house, or renting is actually not that bad and then it's not an issue if people rent instead of buying the house. It can't be both at the same time.

Also I think your calculation of "rent until price bottoms out" only makes sense if the price is dropping by more, each month, than a month's rent. Idk but that seems like a dramatic drop.