Nearly 11 Percent of US Houses Empty


#1

I usually find the quarterly homeowner vacancy and homeownership report from Census pretty lackluster, but the latest one released this morning was anything but.

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.
Homeownership is falling at an alarming pace, despite the fact that home prices have fallen, affordability is much improved and inventories of new and existing homes are still running quite high.

News Headlines

The Obama economy is going down hill–party on president


#2

We drove a new subdivision the other day of about 50 houses. 10 were empty. (All the same builder, fwiw.)


#3

[quote=“2cent, post:2, topic:29030”]
We drove a new subdivision the other day of about 50 houses. 10 were empty. (All the same builder, fwiw.)
[/quote]I have never drove a subdivision myself- it must be fun:wink:


#4

They are hell to parallel park!


#5

You think that’s bad, try backing up with a hitch!


#6

Wise allecks! :biggrin:
And, believe me, I don’t want to break up the fun, but that was my husband’s sub-division. Or rather, the builder he works for.
Which is why he hasn’t had any work for a month, and can easily see that we won’t for at least a few more, yet. And, believe me, everybody else we know is in the same, or worse straights, than we are.
There is NO building going on.
Generally speaking, the highs and lows in the economy don’t hit the mid-west near as hard as they do the east and west coasts. But when it hits US this hard, you know we’re in for a world of hurt.
Oh, we’ll be okay, and I DO hate to be a ‘doom and gloomer’, but just saying…it’s gonna be a little while before it gets better, folks.


#7

I know every empty house in this country means hardship for someone and I’m sorry. Call it a self defense mechanism. It’s either humor to break the tension or get angry in my case. Obama’s make work projects are not going to do a thing to stabilize things. People need steady work, long term, to build up disposable income to spend on housing, cars and other things that bring tax dollars back into the coffers. Until then the Government bleeds out and all the tools in charge can think of is raising taxes on those still able to pay. Good luck to you and your husband.


#8

[quote=“2cent, post:5, topic:29030”]
You think that’s bad, try backing up with a hitch!
[/quote]Been there done that.


#9

With an entire sub-division? :freaked:


#10

[quote=“2cent, post:9, topic:29030”]
With an entire sub-division? :freaked:
[/quote]I will leave that up to you:slayer:


#11

Well with 11% empty why build more? and what of the 11% are actually liveable? and of the liveable of the 11% what kind of neighborhood would they be in? and wherever the neighborhood the liveable of the 11% are in how approximate are they to a possible job source?
Lot of logistical questions.


#12

This seems to be a good time to come of age. Once I’m eighteen I can just pick an empty house I fancy, go find the owner and be like, “I’ll give you two dollars, a paper clip, and a piece of string for this house.” And the owner will be like, “Oh my God, thank you, thank you!!!”


#13

[quote=“SuddenImpact, post:12, topic:29030”]
This seems to be a good time to come of age. Once I’m eighteen I can just pick and empty house I fancy, go find the owner and be like, “I’ll give you two dollars, a paper clip, and a piece of string for this house.” And the owner will be like, “Oh my God, thank you, thank you!!!”
[/quote]So now you are a valley girl?


#14

Haven’t you been keeping up with Clammy’s and my banter, Sam? =) http://www.republicanoperative.com/forums/f33/purpose-life-individuals-societies-stable-family-29970/index9.html#post424511


#15

Exactly. And is why many, many people I know have no work. And it’s not like they’re too good to flip burgers or clean rooms. They’re not hiring, either.

and what of the 11% are actually liveable? and of the liveable of the 11% what kind of neighborhood would they be in? and wherever the neighborhood the liveable of the 11% are in how approximate are they to a possible job source?
Lot of logistical questions.

I can’t speak for ALL of the 11%, but the sub-division we drove through is around 4 years old, all very liveable, nice neighborhood, in a town booming at the time, fairly close to job sources.
I can say the same for 4 or 5 other sub-divisions - same builder; different surrounding cities. No, he didn’t overprice the homes. The bottom just fell out from underneath people’s ability to purchase.
Just for clarification: Some of the houses were occupied, but repossesed; some never purchased.


#16

[quote=“SuddenImpact, post:14, topic:29030”]
Haven’t you been keeping up with Clammy’s and my banter, Sam? =) http://www.republicanoperative.com/forums/f33/purpose-life-individuals-societies-stable-family-29970/index9.html#post424511
[/quote]No I have not been reading your exchanges