NEW YORK (CNNMoney) — It’s not always easy to feel sorry for sunny Florida. But they just got hit with another blow.
On Thursday, the Census Bureau revealed that 18% — or 1.6 million — of the Sunshine State’s homes are sitting vacant. That’s a rise of more than 63% over the past 10 years.
Having this amount of oversupply on the market will keep home prices depressed and slow any recovery.