Take a 60% haircut and there are still MILLIONS
The Biden Presidency
- Thread starter The Tariff King
- Start date
Take a 60% haircut and there are still MILLIONS
zitothebrave
Connoisseur of Minors
"However, just because a home is vacant doesn’t mean it’s for sale. Some vacant homes are vacation homes, while others are uninhabitable."
Also how many of those vacant homes are Airbnb?
You're punching all around the issues, according to the graph breakdown 32.8% of vacant homes are vacation homes and 37.1% are other. Which could be developers sitting on homes they bought in popular areas waiting to develop them, it could be airbnb, vrbo, etc.
That's the housing crisis. And building more homes won't solve it. Taxing the **** out of homes that aren't being used as residences will.
Thats why I said take a haircut.
We have plenty of supply right now of homes in many areas.
We just need to deport illegals occupying others and costs will plummet.
Another unspecified % of these are homes that were sold to new owners, but no one lives there yet.
In fact, from that article, only 5.1% of this 16 million are houses currently listed for sale.
TAKE. THE. L.
Listed for sale does is not hte only metric for an unoccupied home.
Take the L Carp
Millions of homes are unoccupied right now.
You're definitely not if you think the 5.1% represents the full population of unoccupied homes.
So all these developers are struggling to sell millions of homes according to you, yet less than 1 million unoccupied homes currently exist in the market.....
For starters this is data from 2022 and there was absurd amounts of building in Texas/Florida since that time.
Further - You still think the 5.1% represents all unoccupied homes. Those are just the ones developers are hoping to sell.
Unoccupied homes for sale? They sure do.
You are the one that posted the article. Either the data is relevant or it isn't. Either it's an accurate representation of the current market, or it's irrelevant to the discussion. You can't go picking and choosing which parts you like and then try to apply to current day data.
Yes - And its important to understand how much building has taken place since this time when MILLIONS of homes were unoccupied.
If they aren't for sale/rent, they don't have any relevance to your argument.
How many of these are abandoned and in a state of decay, that will never sell in any market?
Tapate50
Well-known member
No one is building senselessly
Thats already included in the article around 35% and not included in the haircutted figures I referenced.
The projections on population growth of Texas/Florida will come back to bite a lot of developers in the ass.
Especially if we get a follow through on the deportations.
Tapate50
Well-known member
Ok, but that’s fine.
Developers take that chance when they get in business.
Stop helping bailouts