As foreclosures surge, we also learn today vacant U.S. houses have reached a record high. According to the Census Bureau, over 18.6 million houses are empty -- up 1 million properties from a year ago.
That’s the biggest glut of vacant homes since the Census Bureau started keeping track in 1956. Most likely, this many homes haven’t sat empty since the Great Depression.
Our friend Kurt Richebacher rolled over in his grave so hard this morning he likely pulled a muscle.
But the crumbling housing market is old news, right? Gasoline prices are now the No. 1 economic concern among U.S. consumers.
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