Will a drop in house prices mean a drop in rent?

Supply and demand = greedy landlords

I am a real estate professional in NJ ans I will tell you that lower home prices usually mean higher rents. Home prices are low but banks are really strict on who they will give a mortgage to. That being said there is a high demand for rental properties right now and with the demand high, rents that are charged will be high. That's why if you can, this is the best time to buy a home.

Most likely, the opposite will happen. It's the law of Supply and Demand. With two million homes in foreclosure that's a lot of people who are no longer homeowners but will have to rent. More demand for rental housing tends to drive rents up. We're in a recession too, so that could tend to negate some of that effect. It's highly unlikely rents will drop, however.

The opposite due to supply and demand. More people are going to be re-possessed/divorced/have to move due to job change etc. Also the supply of new houses is now virtually nil and it is impossible to move as you can't get a mortgage therefore rents are liable to rise!

With so many people loosing their houses or holding off on buying...the rental market has and will continue to go up.

no. rent will go up for the following reasons: 1. increased competition and scarcity of apartments. all of those people who can now not qualify for mortgages have to live somewhere, right? 2. decreased equity, increased property taxes, utilities, and fuel mean that landlords must absorb additional expenses. those expenses will be passed off to the renter. renting and buying are converse forces. when the house market rebounds (and it will eventually), you will see rent decrease.

maybe, if people already have mortgages and they can't afford them the rents may go up though, also renting isn't going to be so safe as landlords may have their buy to let properties repossessed - if things get worse, I'd go for it now.

not a chance in heck. It has now become a renters market with the increase in foreclosures.

No! Interest is going up, therefore rent will be going up. Nothing will be going down anytime fast.