5 ms·
One issue is with how the census/fed defines vacancy. >A housing unit is vacant if no one is living in it at the time of the interview, unless its occupants ar
by faet 3y ago
One issue is with how the census/fed defines vacancy.
>A housing unit is vacant if no one is living in it at the time of the interview, unless its occupants are only temporarily absent. In addition, a vacant unit may be one which is entirely occupied by persons who have a usual residence elsewhere. New units not yet occupied are classified as vacant housing units if construction has reached a point where all exterior windows and doors are installed and final usable floors are in place.
If a builder is building a house and it has a roof/windows/doors/floors but no occupancy permit, utilities are not hooked up, and there are no appliances/furniture that is counted as 'vacant' even though you technically can't live there.
If I left an apartment today (12th) and my lease ends the 30th. Even if a lease is in place at the start of the next month that still counts as a vacancy.
If I have a 2nd home I share with family/friends/short term lease that is generally occupied, it's still "vacant".
- jeffbee 3y agoThis is the true math right here. An apartment that is occupied for a year, then takes a month to lease out again, results in an 8% vacancy rate. That’s just one of the reasons. People who think we can drive the vacancy rate down, even though it already stands at a record low, are crazy.