One in Nine U.S. Homes Empty

Empty homes are littered in cities across the country. According to the U.S. Census Bureau, one out of every nine U.S. homes is unoccupied.

"Dirt where a lush lawn should be. Vacant lots on either side. And the sale price: $729,900 for a never-lived-in, 5,500-square-foot, five-bedroom, 3.5-bath custom home that about a year ago was listed for more than $1.2 million."

"In a nearby subdivision of this community of 246,000, one of the largest suburbs in metropolitan Phoenix, a foreclosure sign in the front yard of a more modest house signals yet another financially troubled home needing a buyer."

"Multiply that scenario hundreds of thousands of times. From Maine to Hawaii, millions of new McMansions, post-World War II bungalows, modern downtown lofts, exurban town homes and inner-city row houses sit empty. This unprecedented glut of vacant homes - one in nine homes across the USA, according to the Census Bureau - will change the real estate landscape for years."

Full Story: Open house, anyone? 1 in 9 homes sit empty


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