Housing vacancy rates are in…
Today, the news is buzzing about the horrific news that census data released shows extremely high vacancy rates in America that have crept up to 13% of all homes, up 12% since 2007. Vacancies are a general ill in the market, especially when they are abandoned homes.
Maine has the highest vacancy rate at 23% of all houses, Vermont 21%, Florida 18% and Arizona 16%. That sounds off. Where is Nevada in all of this?
Wait, that can’t be right…
According to CNNMoney.com, “The way the census calculates the vacancy rates, however, is problematic. It includes properties such as ski lodges, beach houses and pied-à-terres that many real estate statisticians would not.”
So is it true that one in ten American homes are vacant? Probably not, but the stats are likely pretty close- maybe one in every 11. Regardless of the sky not falling as quickly as traditional reporters will have you thinking, we’re amidst the dreaded double dip in the housing market and until lending becomes possible for the average honest American, the glut of vacant homes and limping real estate market will continue as is.
