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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: CalculatedRisk who wrote (1448)3/7/2004 5:12:32 PM
From: mishedlo  Read Replies (1) of 116555
 
Splotto on vacancy rates:

With 121 million owener occupied homes, 700k is only 0.5%. That's not a huge vacancay rate.

However, I do agree that at some number, we are building more homes then we will need. But at that point prices would begin to level or fall. In that system you need to forget 'bubble' and 'mania' and focus on price. The bottom line is that people need to sell their house and buy a new one. As long as that transaction is supported by demand, then prices will not fall.

Judging by the prices lately, I am not sure we are close to it yet.

Splotto
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