The Homa Files

Answer: According to the CBO, about 14% … down about 1 pp from the recession high water mark … but about 3 pp higher than the historical average

The CBO says that even in normal times, the number of vacant housing units is substantial, reflecting:

• the lengthy process of selling home
• the number of second homes and “seasonal units”

Further, the CBO says: “excess vacant units account for about 2/3s of the slower pace of growth of residential during the current recovery relative to prior recoveries.”

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This entry was posted on November 28, 2012 at 1:31 pm and is filed under Housing - Mortgages. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.