Vacancy Rates: Homeowner and Rental

Again, one of the common questions I get is "how much further will housing prices have to drop" and it's like being asked "Are we there yet?"

No, we still have 300 miles and two potty breaks, now shut the hell up and play with your rocks I bought you or so help me I will sell you to some locals at the next Wisconsin bar for two shots of whiskey!

..or so I see myself saying if I were ever to have children.

In any case, it doesn't look good for housing prices because vacancy rates for both rentals AND homes have gone up.


This directly affects the primary driver of value for housing; rents. With so many vacancies, the amount you can rent those properties out for has gone down. This drives the value of those properties down and until we stop building housing or governments top pursuing affordable housing plans ain't nobody's property going to be going up.

So buckle in and get comfy. Lot more miles to go before we "are there yet."