No.
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.
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.
I guess they are just overpriced?
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteNo need to explain further. Maybe thats one of the reason.
ReplyDeleteFor Sale Condos House Rental Apartment
Maybe the problem is that they have many houses, but only a few family can afford to purchase or rent it.
ReplyDeleteIf 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.
california real estate ce courses