Monday, May 30, 2011

Is California's Housing Problem that it has too Many Houses?


Below is a chart of residential vacancy rate by state from the 2010 US Census.

California has the second lowest vacancy rate among the 50 states and DC.  California builders may have built the wrong kind of housing in the wrong places, but overall, they did not build too many houses. 

Note that Florida and Arizona have very high rates, but their rates are always high, because so much of their housing stock is seasonal--I suspect vacation homes drive a lot of what is happening in Maine, Vermont and Alaska as well.  Nevada has had the largest increase in vacancy over the past 20 years, rising from about 10 percent to 14 percent. 


KGW said...

I guess they are just overpriced?

Convurgeny said...
This comment has been removed by the author.
Bon Ryan said...

No need to explain further. Maybe thats one of the reason.
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Alex P. said...

Maybe the problem is that they have many houses, but only a few family can afford to purchase or rent it.

If those houses are priced according to what those homeless or other families wanting to purchase one can only afford, then those houses in California that are vacant can be vacated any time possible.

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