From the NY Times:
IN New Jersey, those big suburban homes that used to be called exemplars of the American dream of homeownership are increasingly available for a monthly fee.
Houses with yards and eat-in kitchens, cedar decks and garage-door openers — some recently built, others older and set in the well-established kind of neighborhood where the mailman waves and trick-or-treaters travel en masse — are available for rent in “numbers not seen before,” in the words of Nicole Idler of Friedman Properties and Associates, a longtime broker in Bergen County.
In Bergen alone, 1,589 single-family homes are listed for rent, according to Ms. Idler’s search of multiple listings. Many of those are being offered for sale at the same time, though she and other agents said it was not possible to pinpoint that percentage. (The total number of single-family houses on the market in the county is 4,259, according to the listings.)
“Obviously, there are more single-family homes available for rent because the for-sale market is so difficult,” said Barbara Wilke, an agent in the Ridgewood office of Marron Gildea & Donohue Realtors.
Ms. Idler agreed with that assessment, adding that “both markets have become flooded.”