Martin Armstrong often stated about the inevitable crash of the Real Estate bubble. This thing was getting out of control back in the mid-2000s and it's getting even worse now. Interestingly enough (the timing is also critical) Bloomberg has posted an article about the four "worst" cities as far as it concerns the housing rents.

For renters in Austin, Boston, San Francisco, and Houston, however, there may be a slightly less depressing future, a new report shows. Periodically, commercial real estate firm CBRE polls brokers on the rent-growth expectations that apartment landlords are baking into property transactions. And for prime properties in those four cities, those expectations are coming down, according to its most recent report.


This is everywhere btw. Not only in the USofA.
http://www.bloomberg.com/news/articles/2015-09-18/in-some-cities-even-landlords-think-rents-are-getting-out-of-hand