The Vacancy Sign Has Gone Up Across California
Thursday, May 12, 2011
The 2010 census is sharpening our view of trends in housing in California. And today an AP story outlined one way in which our communities are changing. There are a lot more vacant houses than there used to be.
Put another way... there are more people living in fewer homes. Click on the link above to read the complete article. There first few graphs are below.
LOS ANGELES (AP) - Californians saw the rate of empty homes and rental apartments in the state increase during the past decade, census data showed on Thursday in the latest news on the state's battered housing market.
The Golden State's homeowner vacancy rate shot up from 1.4 percent to 2.1 percent, while the rental vacancy rate rose from 3.7 percent to 6.3 percent, according to data from the 2010 census.
At the same time, the average household size in owner-occupied and rental units increased across the state.
Since the economy tumbled, Californians have left the state in search of jobs or doubled up with family members to ride out the storm in the housing market, real estate experts said.
"People are moving out of state or people are doubling up," said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California.