Home Vacancies Rise as U.S. Ownership Falls to Lowest in Decade - BloombergAbout 18.9 million homes in the U.S. stood empty during the second quarter as surging foreclosures helped push ownership to the lowest level in a decade.
The number of vacant properties, including foreclosures, residences for sale and vacation homes, rose from 18.6 million in the year-earlier quarter, the U.S. Census Bureau said in a report today. The ownership rate, meaning households that own their own residence, was 66.9 percent, the lowest since 1999.
And yet people keep saying the economy is out of recession--with the housing market still in a trash can and government budgets gushing red ink from the federal government down to the local school districts.