How bad is the housing market? Bad and getting worse. As of now, 11% of all U.S. homes are empty. Can you imagine how desperate builders and real estate agents must be at this point?
So think about it. Eleven percent of the houses in America are empty. This as builders start to get more bullish, and renting apartments becomes ever more popular. Vacancies in the apartment sector have been falling steadily and dramatically, why? Because we're still recovering emotionally from the toll of the housing crash.This is not a recipe for a recovering economy.
Younger Americans have seen what home ownership has done to their friends and families, and many want no part of it. Credit has become very nearly elitist. Home prices, whatever your particular data provider preference might be, are still falling.