Record 19 Million U.S. Homes Stood Vacant in 2008 | WHAT REALLY HAPPENED


Record 19 Million U.S. Homes Stood Vacant in 2008

Kathleen M. Howley | Bloomberg.com | Tue- Feb 3, 2009

Feb. 3 (Bloomberg) -- A record 19 million U.S. houses stood empty at the end of 2008 as banks seized homes faster than they could sell them and prices continued to fall.

Vacant homes in the fourth quarter increased by 6.7 percent from the same period a year ago, the U.S. Census Bureau said in a report today. The vacancy rate, the share of empty homes for sale, rose to 2.9 percent in the quarter, the most in data that goes back to 1956.

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