That sounded surprisingly high so I looked it up. Rental vacancy was 5.6% and homeowner vacancy was 0.8% in 2022Q2. Vacancy hasn’t been near 10% in about a decade.
How much rental vacancy is needed for there to be enough space for people to move around? 3-5%? Too low and you have gridlock.
How much rental vacancy is needed for there to be enough space for people to move around? 3-5%? Too low and you have gridlock.
https://www.census.gov/housing/hvs/files/currenthvspress.pdf