Posted on 03/28/2011 11:15:13 AM PDT by Nachum
New York - High residential vacancies are killing many housing markets, as foreclosed homes sit on the market and depress sale prices and property values. And it's only getting worse: The national vacancy rate crept up to just over 13% according to last week's decennial census report. That's up from 12.1% in 2007. "More vacant homes equal more downward pressure on home prices," (Snip) Maine had the highest proportion of empty housing stock, at 22.8%. Other states with gluts of empty houses included Vermont (20.5%), Florida (17.5%), Arizona (16.3%) and Alaska (15.9%).
(Excerpt) Read more at money.cnn.com ...
The list, ping
Let me know if you would like to be on or off the ping list
What's it like in your area?
Worthless comparison since it counts vacation homes as vacant.
Maine had the highest proportion of empty housing stock, at 22.8%....Compare them with Connecticut, which has a vacancy rate of just 7.9%, the lowest of all the states. If you back out the vacation properties from the statistics, the states have very similar vacancy rates: 6.1% for Connecticut and 7% for Maine.
Here’s a thought; let’s give those homes to any Japanese who want to move here and stay. I’d have no problem taking in a few million educated, polite, productive, industrious, and honest people.
Now, the opposite side of town where I work? For sale signs all over and a few with "auction" listed on the signs.
location... location...location..
Mitsubishi is opening a wind turbine plant here this year, scheduled to start production this fall (we’re in Fort Smith, AR). They are supposed to employ about 600, IIRC. My daughter said before Spring Break that there was a new girl at the school who had just arrived with her family from Japan—her dad is with the new plant being built.
I am hoping they bring some more ‘friends’ with them...we’ve had our house for sale for almost six months with no offers ;) We’re moving to Ohio this summer.
No thanks.
These homes will be hard to sell. A house declines rapidly when left empty.
I suppose this is a much more accurate gauge of unemployment than the governments unemployment figures.
Nothing but uninhabitable over-priced rat traps for sale in my town.
Worthless, is right.
After reading the full article my first reaction was “who writes this crap?”
CNN, that’s who.
Apparently, having an attention getting headline and later refuting it in the story is a sporting way to direct web traffic.
I totally agree. Bring in as many Japanese that wish to come!
Agreed! Except... maybe not the "glow in the dark" variety!
and this is a problem because? ....
As disastrous as the market is in my area (my home has lost 40% of its highest value in the last three years) it is nothing like 12% maybe 4-5%. I live on the NW side of Chicago.
One foreclosure next door.
Empty for 1 year.
Just sold at auction.
I live in a rural area: 17 homes. One is for sale, and has been for 4 months. I don’t know if they’ve had any lookers.
A number of years ago they were building new homes like crazy, even tho there were plenty of *used* houses already, and I thought....who is buying all of these new houses, and what happens to the houses that are already built? It’s not like you throw them away. Where did all the people who used to live in these empty houses go? Are they now living somewhere else? I worried about having an excess of houses at some point.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.