Saturday, February 21, 2009

Feeling empty inside?

If so, you're not alone in this little corner of heaven.

Zack O'Malley Greenburg over at has declared Orlando one of the "emptiest" cities in America.

According to him, homes around here have a whopping 7.3% vacancy rate.

And, rentals are worse: 12.3%.

I can support his findings with some personally-collected anecdotal evidence. Some of the residential unit shells we built as far back as two years ago are not only still sitting empty, but were never finished by the homebuilders. You can peer in the windows (provided, of course, that they haven't been boarded-up) and see exposed wall studs, no drywall, no flooring, and no appliances.

It's that bad.

The flip side of all this excess inventory is there are some incredible bargains to be had. It's a good time to be a buyer, if you can find the financing. But, that's a big "if" in this new era of nationalized banks . . .

In case you're interested, here's Greenburg's top ten emptiest cities from across the country, some even worse-off than we are:

1. Las Vegas
2. Detroit
3. Atlanta
4. Greensboro, NC
5. Dayton, OH
6. Phoenix.
8. Kansas City
9. Jacksonville
10. Indianapolis

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