The current housing market is suffering from too many homes available for sale and too few serious, qualified buyers.
So rather than try and sell, some sellers are opting to rent their homes in hopes the market will improve in a few years and they can sell.
“A lot of houses have come on the (rental) market recently,” said Cindy Hoppe with Bray Property Management.
Normally, a large supply tends to reduce the demand, but because people have lost homes due to foreclosure or been unable to purchase a home because of higher credit standards, the demand for rental property has kept up with the supply.
http://www.gjsentinel.com/special_sections/articles/for_rent_rentals_on_the_move/
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