Posted on 01/31/2011 6:38:03 PM PST by driftdiver
I usually find the quarterly homeowner vacancy and homeownership report from Census pretty lackluster, but the latest one released this morning was anything but. Strawberry Mill Valley
America's home ownership rate, after holding steady for a while, took a pretty big plunge in Q4, from 66.9 percent to 66.5 percent. That's down from the 2004 peak of 69.2 percent and the lowest level since 1998
(Excerpt) Read more at cnbc.com ...
We are ten years overbuilt.
Many people on this forum have explained this for years, and detailed the coming real estate collapse ... that we are now in.
I believe Diana really meant to say:
Nearly 11 percent of US houses have no lawful residents.
The list, ping
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The house on either side of me is empty during the winter. The neighbor behind me owns another house but won’t move till he can sell for a reasonable price.
The plan to import illions of immigrants to fill the houses isn’t working out.
30% of business properties in my city are vacant.
Nearly 11 Percent of US Houses Empty
In the age of Obama this is called recovery.
What she said is accurate.
The squatter problem is additional to being overbuilt.
When the banks decide the government really isn’t going to save them again and sell at real market based prices, some people will get their first home of their own. This is a great country.
Thanks, Obama!
More people moving in with their parents/children.
Families are doubling up, 3 generations sometimes.
Builders and the trades will be hurting for some time to come.
What's the problem?
The government can always borrow money to buy those houses from the banks for the price the houses sold for oringinally.
Then the government can--sooner or later--tax rest of us suckers more to pay off the loan.
There are several in my neighborhood that are empty. Its going to get worse. Makes me wonder what I should do with this over priced crap I was stupid enough to sign for.
“30% of business properties in my city are vacant.”
I think its higher here in Florida. Nearly all strip malls in my area are at least 30% empty and some are closer to 90%.
I own a house that sits empty most of the year. We visit it once or twice to keep tabs on upkeep. It is paid for. When this urban swamp dwelling is sold, we will be gone.
It is a great time to buy a house, though. That is if Obama hasn’t destroyed your job and shipped it to China.
I hear you. I built the house I’m in now in 1998. In 2002, I could have sold it for more than double what I paid. Now, I would be lucky to get 10% more than I paid 12 years ago. And this is in an affluent suburb. So much for housing as an investment.
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