No. While exurban exiles will feel the pinch on payments and at the pump, denser inner-urban communities will probably see rents increase as desperate homeowners look to cut costs and find job opportunities. And it's not like you can expect affordable housing in the likes of Belmont and Saddle River, Ross or Sag Harbor, Piedmont or Greenwich. As bad as renting is long-term for your retirement and rent control may be for their housing markets, apartment dwellers with fixed costs are the least likely to move back in with parents right now.