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Scary Real Estate Trends: Rental Bidding War

While the immediate future of the residential sales market is murky, it's good times for owners looking to rent out a flat. Blogger Callalillie reports on a recent hunt for a new rental apartment in Park Slope:

We began the day visiting an open house in Park Slope-- a beautiful 2BR brownstone floor through, nicely renovated with a great kitchen. The price was right, but when we got there, we realized that swarms of people had visited and that there would most likely be a rent bidding war... End Result: Nothing is really available over this Labor Day stretch. Furthermore, since when do bidding wars happen with RENTALS?
Yikes. Hey Grunt, any intel on this phenomenon?
· Searching for a New Hood [Callalillie]