Holiday home owners on the famed Jersey Shore have seen rental bookings slump after jacking prices so high it's now cheaper to vacation in .
The once booming rental-market has come to a screeching halt with locals and holiday goers alike turning their backs on sky-high prices in favor of more affordable - and often more exotic - alternatives.
The slump began last summer, but has come to a breaking point early this season as panic brews among homeowners looking for renters. Analysts say some rentals are priced about a third higher than they should be.
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