A Staggering 18.9 Million Homes in U.S. Are Currently Vacant

Foreclosures rise

As the number of foreclosure filings hit historic highs, studies and statistics show staggering results. Of the 130.6 Million housing units in America, 18.9 Million homes are vacant as of the end of December 2009, according to the U.S. Census Bureau. That’s more than the entire population of Greece and Israel combined!

The Census Bureau also reported that national vacancy rates in the fourth quarter 2009 were 10.7% for rental housing and 2.7% for homeowner housing and that the vacancy rate for rentals was higher than the fourth quarter 2008 rate of 10% but just barely (at 1%).

Some economists predict that we haven’t hit bottom yet and predict more homes will be lost despite the Obama Administration’s attempts (through what some call a failing program known as HAMP) to help sinking homeowners. Others forecast that we are currently bouncing at the bottom and that 2010 is the year of recovery. What say you?