 |
| An abandoned piece of real estate in Detroit, Michigan |
After browsing through the website “The Real Estate Bloggers”, I came After browsing through the website “The Real Estate Bloggers”, I came across an entry that immediately caught my eye. This article, gave the approximate number of vacant homes in the United States. At 18.4 million units, this statistic absolutely shocked me. As I am sure everyone knows, the market for real estate has not been this bad for decades. Nonetheless, such a figure really puts things into perspective. 11% of all homes in the United States are empty. One can only wonder how much this huge supply of homes will affect property vales when they enter the market. Economists predict this oversupply will cause prices to fall even further in 2011. Personally, I am curious where the residents of these now vacant homes currently live. After all, home sales have fallen drastically over the past few years.
No comments:
Post a Comment