Every quarter, the Census Bureau releases a broad snapshot of the U.S. housing industry
– specifically, it tallies up the U.S. homeownership
rate and the U.S. vacancy rate (what percentage of U.S. homes are sitting empty). The latest figures for Q1 2008 show:
* The homeowner vacancy rate rose
to 2.9% from 2.8% in both Q4 2007 and Q1 2007. This is the highest vacancy rate in the nation’s history . Prior to the
housing bust, this figure never rose above 2%, as you can see in the chart above. The
Census Bureau estimates there are 2.277 million housing units for sale, up 4.5% from a
year earlier to a record high.
to 2.9% from 2.8% in both Q4 2007 and Q1 2007. This is the highest vacancy rate in the nation’s history . Prior to the
housing bust, this figure never rose above 2%, as you can see in the chart above. The
Census Bureau estimates there are 2.277 million housing units for sale, up 4.5% from a
year earlier to a record high.
* The rental vacancy rate also climbed somewhat. It hit 10.1% vs. 9.6% in Q4
2007 and 10.1% a year earlier. The recent peak was 10.4% in Q1 2004.
2007 and 10.1% a year earlier. The recent peak was 10.4% in Q1 2004.
* Meanwhile, the seasonally adjusted homeownership inched higher to 67.9% from 67.7% a quarter earlier. That was down from 68.5% a
year earlier. The boomtime high was 69.3% in Q2
2004.
year earlier. The boomtime high was 69.3% in Q2
2004.
More on this topic
(What's this?)
Why Housing Prices Will Keep Dropping in Value
(Investment U, 8/28/09)
Fraud and Propaganda - The Norm
(Gold Versus Paper, 9/25/09)
Is it Really Over?
(Contrarian Profits, 9/25/09)
Has the Housing Market Really Hit Bottom, or Is It Headed for Another Collapse?
(Money Morning, 7/30/09)
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