Nobody can promise where rents go, so watch what actually drives them: supply, demand, and leases that reset slowly. Because most renters sign at least a 12-month lease, rents are sticky and rarely reverse quickly, even when home prices soften. In roughly two decades in the business, we have very seldom seen rents actually fall, though they can flatten. On the demand side: as people form households, couple up, and need space, and as affordability keeps would-be buyers renting longer, demand stays firm. People who sell expecting a downturn often rent while they wait, which adds to the same pool. On the supply side, cheap financing pushes builders into new apartments, and when multifamily permits and completions slow, that new supply tapers a few years later. Shelter costs have also tended to outpace general inflation over long stretches. The picture is usually uneven. Trophy rentals and well-kept mid-tier units in good areas tend to hold their pricing longest, while older or lower-end units that picked up unusual pricing power in a tight market are the ones most likely to need cuts to fill. Over a long horizon, rents track wages and inflation and are very likely higher than they are today. In the short run they can flatten or dip. Watch local vacancy, new construction in your own submarket, and the direction of local jobs.