Be careful to not over-read the numbers; for a full analysis you need to compare same-room rental prices over time, because the average can be distorted by properties coming or leaving the market (for example, the expensive rental places could dry up fast because expensive renters are deciding to buy now, which causes the average to drop even as the median rent continues to slowly rise).
However, once it cools off it's likely to stay cool for awhile, especially if rooms start going empty for periods of time.
Not really. Look at the Fed. This is literally their intention and all the increases in the last few years were created by the money supply and low rates.
However, once it cools off it's likely to stay cool for awhile, especially if rooms start going empty for periods of time.