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America's Emptiest Cities

Submitted by MCBAIKO on Tue, 02/24/2009 - 01:46
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America's Emptiest Cities
by Zack O'Malley Greenburg
Friday, February 13, 2009
provided by Forbes.com

Vacancy rates in these spots spell lots of empty neighborhoods.

Call it a modern-day tale of two cities.

More from Forbes.com:

• In Depth: America's Emptiest Cities

• America's Best Long-Term Real Estate Bets

• America's 10 Most Miserable Cities

For decades, Las Vegas, ripe with new construction and economic development, burgeoned into a shimmering urban carnival. Detroit, once the fulcrum of American industry, sagged and rusted under its own weight.

These days, it's the worst of times for both....

For full article: http://finance.yahoo.com/real-estate/article/106587/America

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Submitted by gavination on Tue, 02/24/2009 - 03:24.

This article is proof that the current system cant/shouldnt be propped up. Housing prices need to fall in order for these vacant homes to be sellable. The house next door to me has been for sale for three years, asking 80,000 up til a year and a half ago. Then it dropped to 54,000. Six months later 29,000. Last week someone finally bought it for 20,000.