The unit I rent has just been sold

You do not have the right to stay past your lease expiration date. You can speak to the owner and ask for 2 extra months, but if the answer is no the legally you need to leave when your lease expires. Unless of course you are a protected tenant, but am assumin you would have said so.

But according to everybody on this site, you having nothing to worry about!! They all tell us that prices are going to go down by 30%-50% before the end of the year for rentals and purchases!! And you should trust them because they're all super geniuses!! They all know how to time the market perfectly!! So don't worry - just move into a sublet for now, and by the end of the summer (or early next year at the latest), you'll be able to rent a similar place to the one you're currently in for two-thirds of what you're paying now!! Awesome!!

#3 is a bitter person, having paid high and now does not know what to do...prayer, crying, etc.

Yes! I for one am going to wait until everyone here says to buy and rent because I trust their analysis. Just please make sure to tell me when that exact bottom is. The question I have is, where should I live until rents and purchase prices drop so I can maximize my return?

#1, they say that the summer is the height of the rental crunch so the sooner you find something else the better apparently. Good Luck!

#3 here again:

You're EXACTLY right, poster #4, you are soooooo perceptive. Yes, I'm really worried about being THROWN OUT INTO THE STREET from my beautiful apartment that I OWN, and plan to live in for many, many years. Oh, and also that I locked in a HISTORICALLY LOW interest rate mortgage on. Of course, since YOU'RE SO SURE that rents and residential prices are going to drop SO precipitously SO quickly, oh tell us great oracle - how should we time the market?!? Will you tell us where the real bottom is?!? I's sure you bought about five or six years ago at historically low interest rates as well, and saw a huge return on YOUR home that YOU own, right?!?

Could you guys please stop dragging everything down to a rent or own discussion. Idiots. Your ruining a nice forum.

@1 Does your lease cover how the renewal has to be done? Mine does, i.e. it states that I have to renew 60 days before expiration or give notice that I will vacate. Or are you already in a month to month situation? Depending on how much you can spend I would start looking right away.

You people are all a bunch of pathetic losers! Why do you argue about renting vs. owning all the time!? It all depends on the person's situation. Sometimes renting is a better option for someone and sometimes buying is a better option. It all depends on what is best for that person so stop ripping each other apart over something so damn stupid! You all act like a bunch of children. Quick pushing your opinions on everyone else, just because you think something doesn't mean that you're right!! Just writing this right now is making my blood pressure go up! All of you stop being so damn stubborn and bitter!