Real estate has gone up like 30% in the last year. What makes you think it will go down?

So rents for low end properties are determined by two things ...1) government programs and 2) about 40% of an employed low end persons wages at a real job. (minimum wage workers rent rooms basements etc )

So when minimum wage programs kick in and their supervisors get corresponding raises rents will rise (or fall if there is a glut of available cheap housing) to meet that magic number. Since real estate prices are always based on investor returns that is what determines the real estate prices where supply and demand is relatively in balance. If there is a glut, its lower, if there is a shortage its higher and that is where individual market investment decisions need to be assessed based on whether the glut is permanent (a factory closes down) or the shortage is permanent (liberal zoning laws and lack of available land to build)

So all the predictions can be true at the same time. Inflated prices will fall and wage increase will cause rents to rise and the cost of housing to follow as people seek to get in on the rental investment market diving up prices.

It depends all on locality.