OVER 18 MILLION HOMES IN THE U.S. ARE VACANT

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OVER 18 MILLION HOMES IN THE U.S. ARE VACANT

OVER 18 MILLION HOMES IN THE U.S. ARE VACANT

by on Jan 31, 2011

There were 18.4 million vacant homes in the U.S. in Q4 ’10 (11 percent of all housing units vacant all year round), which is actually an improvement of 427,000 from a year ago.

The number of vacant homes for rent fell by 493 thousand, as rental demand rose. 471,000 homes are listed as “Held off Market” about half for temporary use, but the other half are likely foreclosures. And no, the shadow inventory isn’t just 200,000, it’s far higher than that.

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.

image: http://www.brown.edu/Departments/Political_Theory_Project/janus/events/food_for_thought/homelessness

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