A great resource for LA outsiders to find relevant information about the little neighborhoods inside Los Angeles is: http://maps.latimes.com/neighborhoods/ ...it shows how wildly Income, employment rates, rent-to-own ratios, and crime statistics differ wildly between the little neighborhoods of L.A. 

Statistics say that 80% of response is on the 6th to 12th contact.

While the anecdotal evidence provided here by most posters is born out in fact we can actual look at basic RE market statistics and economics to see why Theo is correct and his friend is not.RE rents are "sticky" compared to home prices, at least in the short and medium term.  

Thanks,Tim I haven't looked at the latest statistics in Illinois but closing a short sale after an accepted offer can take from 3 to 4 months.  

(dont quote me on that rough statistics but it sure seems that way!)

We're looking to get another one by the end of the year, but we don't really have a statistical manner of assessing our options. 

MA is considering changing the definition of lead poisoning from having a blood level of 10 or above to 5 or above, drastically increasing the statistic of kids with lead poisoning, which in turn would make people want stricter lead laws, which in turn would make the cost of my license and ongoing education go up, which in turn would make my rates go up, etc., etc., etc..Here's a quick description of some of the terms.

My academic and career history has helped me develop a solid writing skillset and experience with statistics as well as some marketing.

I guess there are tallys of pretty much all statistical information on the site by now. 

I've read a statistic once that 90% of people doing rent-to-own never buy the property.