That's a serious drop from April, which is when this video said we were at a mere five-year high. If you're apartment-hunting, time to renegotiate the rent.

This is right in line with my own economic indicators, which are based on Craigslist. I've noticed that nice apartments that used to go within a day or two now linger for weeks as landlords keep dropping the asking prices. (Also, people are selling fine guitars at deep discounts. Just in case through some miracle, you can actually afford one.)