Where the Most Houses Aren’t Homes
The “negative feedback loop” is a fancy new name business folks are giving to the Catch-22, vicious cycle, self-confirming prophecy that has foreclosures, home price declines, job loss, lower consumer spending, reduced earnings, and more job loss in Brian Eno hell …
A key factor in the negative feedback loop is absolute vacancies, the number of home units capable of housing people but aren’t. This factor erodes motivation to act on the part of consumers, and stands as the distance between the recovery of demand and the eerily silent inertia that reigns o’er the housing economy.
If there’s no fear that one will miss an opportunity of a lifetime by not buying now, then there’s little trigger to jump in off the sidelines.
CNBC has pulled together a U.S. Census-based ranking of the 10-metropolitan areas with the most homeowner vacancies, and cobbled a slideshow to highlight the markets.
Have a look-see.
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