Originally Posted By fkurucz <a href="http://www.bloomberg.com/apps/news?pid=20601087&sid=aBfdeRYQ3pOk&refer=home" target="_blank">http://www.bloomberg.com/apps/...fer=home</a> Given that these empty houses could easily accomodate 60 to 100 million people, I think that the national housing market will be in the dumper for a very, very long time. Its easily a 20 year supply.
Originally Posted By RoadTrip I know you are just reporting data you found... I do that all the time. But I think that is complete smoke. There are only about 300 million people in the entire United States and you are going to accommodate 20-33% of them in homes that are currently empty. Right. Some editor didn't check his facts.
Originally Posted By fkurucz I have seen this number quoted else where. No doubt many of these houses are heaps that no one would live in, and are waiting for the wrecking ball. But many are brand spanking new. There are neighborhoods in places like Vegas, Phoenix, Orlando, Inland Empire that are full of new and nearly new houses that stand empty. There are some in my neighborhood, and in my neck of the woods developers don't build 300 houses in one shot and plop "For Sale" signs in fron of them. In my neighborhood all houses were built to order, and it took 5 years to fill up the subdevelopment (about 300 houses). And yet we have several empties in the development.
Originally Posted By EighthDwarf This article totally skewed the data from the US Census Bureau. See this link instead: <a href="http://www.census.gov/hhes/www/housing/hvs/qtr108/q108press.pdf" target="_blank">http://www.census.gov/hhes/www...ress.pdf</a> From page 3: "The number of total vacant housing units, 18.6 Million, was higher than the estimated number in first quarter 2007. Of these vacant housing units, 13.9 million were for year-round use and 4.7 million were for seasonal use. Approximately 4.1 million of the year-round vacant units were for rent, 2.3 million were for sale only, and the remaining 7.5 million units were vacant for a variety of other reasons."
Originally Posted By utahjosh So the media is not always accurate? Shoot, where do I turn for the facts?
Originally Posted By SingleParkPassholder Shoot, where do I turn for the facts? <a href="http://www.affirmation.org/" target="_blank">http://www.affirmation.org/</a>
Originally Posted By fkurucz <<and the remaining 7.5 million units were vacant for a variety of other reasons.">> This is the interesting number. How many are REOs (repos) that are not for sale?
