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Ouch......nearly 11 Percent of US Houses siting empty....(link) -- (link)

Posted by Walt_Disney (aka Walt_Disney) Feb 1 '11, 07:34

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http://ca.finance.yahoo.com/news/Nearly-11-Percent-of-US-cnbc-2065838473.html?x=0 (ca.finance.yahoo.com)

Responses:

The 90 year old lumber company that is the backbone of Knoxville real estate closed yesterday. -- nm - David Feb 1, 07:51
Eh, the homeownership craze is one of the things that led to the collapse. - con_carne Feb 1, 07:50
Rise of the Renters! (cue Inception Button) -- nm - prayformojo Feb 1, 07:42
this is bleak, too. -- (link) - amanda jones Feb 1, 07:39 19
- what's really going to be interesting is how the dodd/frank rules and qrm work out... - x Feb 1, 07:47 16
  - if that comes true, I will be a renter forever. -- nm - loosilu Feb 1, 07:51 10
    - not exactly, because that would rules like hyde mentions would cause housing values to plummet further. - ty97 Feb 1, 07:57
    - i've already embraced it. fuck it. home ownership has no bearing on my continued happiness. -- nm - TFox Feb 1, 07:52 8
      - the idea that home ownership correlates to happiness/stability/etc is one of the prime fictions of neocapitalism.... - x Feb 1, 07:57 5
        
        I'm much happier about owning than renting. I know what my monthly costs will be years in the future. - ceregon Feb 1, 08:01
        
        You sold out and bought? - Will Hunting Feb 1, 07:58 1
        
        yeah, years back. i needed a good place to live for this job...nm - x Feb 1, 08:02
        
        freeloader! -- nm - loosilu Feb 1, 07:58 1
        
        it's a stupid waste of taxpayer money, but if they're foolish enough to offer it i'm not passing it up....nm - x Feb 1, 08:00
      - you know, I think I am there as well. fuck it. -- nm - loosilu Feb 1, 07:55
      - yeah I'm getting there too. -- nm - sycor Feb 1, 07:53
  - 30%? holy shit. who's ever going to be able to buy? -- nm - amanda jones Feb 1, 07:49 4
    - I had to put 25% down on my first rental place in Vegas, and 40% on the second, and I was one of the few able to get financing. - ceregon Feb 1, 07:53 1
      - Of course, I imagine the rules are a lot more stringent on rental properties versus primary residences. -- nm - znufrii Feb 1, 07:56
    - no one. probably they're leaning more towards 20%, i think. and the real estate/builder lobby will probably whine it down further.... - x Feb 1, 07:53
    - Rich people ftw! -- nm - Don Homer Feb 1, 07:52
- Someone needs to force the banks to get the eff over it and get this glut of shorts off the market -- nm - ty97 Feb 1, 07:44 1
  - getting ready to list mine short sale. - sycor Feb 1, 07:48
That's actually not *that* much higher than normal. For instance, in the 2000 Census, 9 percent were vacant. -- nm - Don Homer Feb 1, 07:39 2
- if you're taking a housing base of 131 million units, 2% adds up to a heck of a lot of units.....nm - x Feb 1, 07:41 1
  - Oh sure, just trying to provide a reference point. -- nm - Don Homer Feb 1, 07:42
I can't believe this. -- nm - ty97 Feb 1, 07:35 13
- it also says the home ownership rate is 66%. So 66% of Americans are homeowners? I find that even harder to believe. -- nm - loosilu Feb 1, 07:39 9
  - The rate peaked in the mid 2000s during the boom, but it's been over 60 percent for decades. (Also, in reality, the banks are the true owners of many - Don Homer Feb 1, 07:45
  - Canada's is only a couple of points higher, so I am sure the US number is right..... - Walt_Disney Feb 1, 07:43 6
    - aahhhh, my city bias is showing. -- nm - loosilu Feb 1, 07:44 5
      - For reference, it's about 40 percent in DC and 47ish in Alexandria. -- nm - Don Homer Feb 1, 07:51 4
        
        cool, where can I find this? -- nm - loosilu Feb 1, 07:54 3
        
        census.gov :) -- (link) - Don Homer Feb 1, 07:55 2
        
        thanks! speaking of the gov, do you think there's any chance it will shut down today? -- nm - loosilu Feb 1, 07:57 1
        
        No. -- nm - Don Homer Feb 1, 07:58
  - 66% of units are owner-occupied, I would guess. like, if I'm married and I own with my spouse, who's the homeowner? so it would have to be owner-occ. -- nm - amanda jones Feb 1, 07:43
- ditto -- nm - Beaker Feb 1, 07:36
- I totally believe it -- nm - decline Feb 1, 07:36 1
  - I can't believe it. Not saying it's untrue or invalid, I just can't fathom it. -- nm - ty97 Feb 1, 07:40

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