Wow, depressing.. 13 percent of all homes in the are sitting empty? Incredibly sad ... not for the homes, but for the homeless.Also, was interested to read that 68 percent of all single-family homes with a mortgage in Phoenix have negative equity. I'll be in Phoenix this summer, and I'll have my eyes open for foreclosed McMansions.
We have homeless, empty homes, and a need for people to be caretakers for abandoned properties to prevent further financial loss if they deteriorate. Someone needs to step up with a plan that will probably be perceived as unfairly rewarding people but will solve all of these problems simultaneously. Give them the homes and attach conditions about maintenance and community work.
I'm with Toni. 13% of homes unoccupied seems incredibly high. I would be interested to see in which cities/states/regions the majority of these homes are concentrated.
#13 and #18 are unreal. Sales of foreclosed homes now represent an all-time record 23.7% of the market? And 13% of all homes in the United States are currently sitting empty?? The first one is pretty disturbing, but I cannot believe that over one in ten homes are sitting empty. Vacations or traveling on business hopefully drove that up.
These statistics don't really surprise me. We know that U.S. housing prices were above what they should have been and what goes up must come down. The loss of 6.3 trillion dollars in the housing crisis is equal to about half of the national debt. The American dream is changing as represented by #19.
I agree with ET. With such depressing facts the American Dream is definitely changing. I think #19 is very related to #20 and #2. Looks like I found a very depressing answer to my post last week " Is it a good time to buy a house ?".