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CA renter.
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May 4, 2011 at 12:14 PM #18778May 4, 2011 at 12:23 PM #692186
jpinpb
ParticipantI just heard it on KPBS. 9 years of inventory. YIKES!
May 4, 2011 at 12:23 PM #692261ParticipantI just heard it on KPBS. 9 years of inventory. YIKES!
May 4, 2011 at 12:23 PM #693356ParticipantI just heard it on KPBS. 9 years of inventory. YIKES!
May 4, 2011 at 12:23 PM #693007ParticipantI just heard it on KPBS. 9 years of inventory. YIKES!
May 4, 2011 at 12:23 PM #692860ParticipantI just heard it on KPBS. 9 years of inventory. YIKES!
May 4, 2011 at 12:50 PM #692206Eugene
ParticipantThe percentage of vacant houses is an old fallacy (most vacant houses are second homes / vacation homes). The role of the Fed is exaggerated too. Money is “free” because interest rates are low. Interest rates are low because there’s not enough demand for borrowed funds: the household sector is deleveraging (outstanding household debt has been going down every month since early 2008)< and businesses aren't investing. Commodity speculators are the only ones left to borrow.
May 4, 2011 at 12:50 PM #693376ParticipantThe percentage of vacant houses is an old fallacy (most vacant houses are second homes / vacation homes). The role of the Fed is exaggerated too. Money is “free” because interest rates are low. Interest rates are low because there’s not enough demand for borrowed funds: the household sector is deleveraging (outstanding household debt has been going down every month since early 2008)< and businesses aren't investing. Commodity speculators are the only ones left to borrow.
May 4, 2011 at 12:50 PM #692281ParticipantThe percentage of vacant houses is an old fallacy (most vacant houses are second homes / vacation homes). The role of the Fed is exaggerated too. Money is “free” because interest rates are low. Interest rates are low because there’s not enough demand for borrowed funds: the household sector is deleveraging (outstanding household debt has been going down every month since early 2008)< and businesses aren't investing. Commodity speculators are the only ones left to borrow.
May 4, 2011 at 12:50 PM #693027ParticipantThe percentage of vacant houses is an old fallacy (most vacant houses are second homes / vacation homes). The role of the Fed is exaggerated too. Money is “free” because interest rates are low. Interest rates are low because there’s not enough demand for borrowed funds: the household sector is deleveraging (outstanding household debt has been going down every month since early 2008)< and businesses aren't investing. Commodity speculators are the only ones left to borrow.
May 4, 2011 at 12:50 PM #692880ParticipantThe percentage of vacant houses is an old fallacy (most vacant houses are second homes / vacation homes). The role of the Fed is exaggerated too. Money is “free” because interest rates are low. Interest rates are low because there’s not enough demand for borrowed funds: the household sector is deleveraging (outstanding household debt has been going down every month since early 2008)< and businesses aren't investing. Commodity speculators are the only ones left to borrow.
May 4, 2011 at 1:02 PM #692890bearishgurl
ParticipantThat’s a good point, Eugene. I DO think there is a high percentage of vacancies in very distressed parts of the country, such as Detroit, MI. However, many, many people have vacation homes which are never rented and always left furnished with supplies for family and friends to visit. I believe the bulk of vacation homes nationwide are owned free and clear. Whenever I visit certain lakes in the southwest part of the country in the summer, I see many vacant homes, some with private boathouses and quite a few are over 2500 sf with multiple garages. The lawn is mowed and all is well.
The same is true of homes here in SD county which are owned by persons living in other countries (such as Mexico). Many are “vacant” with an alarm system, pool servicer and gardener and the owners come and enjoy them whenever they are able to :=]
I think this vacancy figure (that needs to be absorbed thru sales) is high but I can’t say by how much.
May 4, 2011 at 1:02 PM #693386ParticipantThat’s a good point, Eugene. I DO think there is a high percentage of vacancies in very distressed parts of the country, such as Detroit, MI. However, many, many people have vacation homes which are never rented and always left furnished with supplies for family and friends to visit. I believe the bulk of vacation homes nationwide are owned free and clear. Whenever I visit certain lakes in the southwest part of the country in the summer, I see many vacant homes, some with private boathouses and quite a few are over 2500 sf with multiple garages. The lawn is mowed and all is well.
The same is true of homes here in SD county which are owned by persons living in other countries (such as Mexico). Many are “vacant” with an alarm system, pool servicer and gardener and the owners come and enjoy them whenever they are able to :=]
I think this vacancy figure (that needs to be absorbed thru sales) is high but I can’t say by how much.
May 4, 2011 at 1:02 PM #693037ParticipantThat’s a good point, Eugene. I DO think there is a high percentage of vacancies in very distressed parts of the country, such as Detroit, MI. However, many, many people have vacation homes which are never rented and always left furnished with supplies for family and friends to visit. I believe the bulk of vacation homes nationwide are owned free and clear. Whenever I visit certain lakes in the southwest part of the country in the summer, I see many vacant homes, some with private boathouses and quite a few are over 2500 sf with multiple garages. The lawn is mowed and all is well.
The same is true of homes here in SD county which are owned by persons living in other countries (such as Mexico). Many are “vacant” with an alarm system, pool servicer and gardener and the owners come and enjoy them whenever they are able to :=]
I think this vacancy figure (that needs to be absorbed thru sales) is high but I can’t say by how much.
May 4, 2011 at 1:02 PM #692216ParticipantThat’s a good point, Eugene. I DO think there is a high percentage of vacancies in very distressed parts of the country, such as Detroit, MI. However, many, many people have vacation homes which are never rented and always left furnished with supplies for family and friends to visit. I believe the bulk of vacation homes nationwide are owned free and clear. Whenever I visit certain lakes in the southwest part of the country in the summer, I see many vacant homes, some with private boathouses and quite a few are over 2500 sf with multiple garages. The lawn is mowed and all is well.
The same is true of homes here in SD county which are owned by persons living in other countries (such as Mexico). Many are “vacant” with an alarm system, pool servicer and gardener and the owners come and enjoy them whenever they are able to :=]
I think this vacancy figure (that needs to be absorbed thru sales) is high but I can’t say by how much.
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