No one home: one in nine housing units vacant

[Hannah Bell]

http://www.usatoday.com/money/economy/housing/2009-02-12-vacancy12_N.htm

A record 1 in 9 U.S. homes are vacant, a glut created by the housing boom and subsequent collapse.

• More than 14 million housing units are vacant. That number does not include an estimated 4.8 million seasonal or vacation homes, most of which are occupied part of the year. The combined vacancy rate of almost 15% is higher than during previous recessions: 11% in 1991 and 9.4% in 1984.

• About 3% of owned homes are vacant. In normal times, "maybe 1% should be vacant," Myers says.

• More than 9% of homes built since 2000 are vacant compared with about 2% for older homes.

• Homes priced at $500,000 or more are just as likely to be empty as homes that cost less than $100,000.

Historically, vacant housing was more of a concern in cities that have poor neighborhoods. Now, it has hit suburbs and new subdivisions.



I can see it very clearly in my own neighborhood. I can also see the increase in the number of trailers parked in back yards & alleys - with people living in them.

[barbtries]

1. in my complex

there are vacancies where there used to be people. i hope the people are okay.

[Orwellian_Ghost]

2. K&R

[Phoebe Loosinhouse]

3. Hmmm. Empty homes. Homeless people. I feel some kind of idea cystalizing . . .

What if, what if . . . . nah, nevermind. Too simple. Too logical.

[ThomWV]

4. That's the interesting thing - where are the huge increses in homeless you'd expect?

And what about the effect on rents? If there is a lot of empty housing you'd expect rents to drop, but of course if there are people tossed out of their homes and now forced to rent, then you'd expect rents to go up. I haven't seen rents change a dime in the last year. What's with that?

[Phoebe Loosinhouse]

5. I think it's hidden. People are bunking with family members

or returning home to Mom and Pop. Or, they are using the new substitute for affordable housing - motels. Have you ever noticed the amount of school buses that stop in front of the local, non-franchise motel? I have.

[Hannah Bell]

6. I'm kind of surprised on rents, too. I think it shows that a lot of landlords

have/make enough to carry the losses.

As for where they're going, in my neighborhood there are more camps on the river & more folks living in backyard trailers.