The problem with home vacancies

According to the U.S. Census Bureau, there are a record number of homes sitting vacant.

This is bad news for neighborhoods.

The Chicago Tribune recently ran a story on the front page of its business section taking a look at the problems that vacant homes cause neighborhoods. You can read the story here. Basically, vacant homes have a tendency to look, well, abandoned, with weeds sprouting everywhere, broken windows and other problems. They’re a burden on the rest of the neighborhood, and an eyesore.

And vacant homes are plentiful, too. According to the Census Bureau 18.6 million homes across the country were sitting unoccupied during the second quarter of the year. That’s a new record. The number of vacant dwellings was up 6.9 percent from the same period last year.

It’s little surprise that the number of vacants has increased so sharply. Foreclosures are still skyrocketing. People are losing their homes. Others are abandoning them when the monthly mortgage bills become too overwhelming.

It’s a sad state of affairs. And one, unfortunately, that doesn’t look to be improving any time soon.