southseacompany posted this link claiming we’ve now reached double the number of vacant homes the US had before their housing bubble burst:
Home vacancies are often a sign of overbuilding, and speculation. At the height of the US housing crisis in 2008, a massive 2.9% of all homes were sitting vacant. This made it hard for home prices to retain their value during the downturn, since the vacant units began flooding the market on the way down. But that was the US, and this is Canada – we don’t have that number of units sitting vacant, right? Actually, Canada has more than twice that number.
Read the full article here.