Increased Unoccupied Residences

E-mail the Congress:

EIN News says, "U.S. Vacancy Rate Increases As Banks Seize More Homes. The share of homes vacant and for sale rose in the fourth quarter after banks seized property from borrowers who defaulted on mortgages. The homeowner vacancy rate increased to 2.7 percent from 2.6 percent in the third quarter, the U.S. Census Bureau said in a report today. There were 2.09 million empty properties on the market, up from 1.99 million, according to the report. (bloomberg.com)".

Please don't monkey with this. The problem was caused by government trying to force people into their own homes, when those persons could not afford to pay for them. This bloated the market for housing, and should now be considered inventory. The market routinely handles excess inventory. It doesn't need government intervention in any form.

The excess inventory will be handled by reduced sales prices, decreased current production, conversion to other facilities, demolition, etc. Inventory reduction takes time. Nobody in this country is suffering from a lack of place to live. They may not like their current accommodations, but perhaps that will be motivation to apply greater efforts in improving their situation. The big impediment to improving lifestyle is individual lack of money, caused by the Obama administration's persecution of business, which then leads to uncertainty and unwillingness to develop business and jobs.