We have noted that the rental market is pretty soft right now.  It is a combination of the soft job market, state furloughs, soft real estate market, lower amounts of foreclosures, and finally, school is in sesson and the holidays are close.  In sum, everything is working against a strong rental market right now.

One thing I know, the market in Sacramento has never fallen off the cliff.  We have a stable job base in the state, the exception this time being the 10-15% pay cuts for state workers. 

The next big event will be the new year.  Pent up demand usually makes Janaury a strong month.  We will see.

The funny thing is that we are still renting property at a brisk pace.  Just at lower prices.