Tag Archives: Florida

Florida leads country with 18% home vacancy rate

Posted on by

While foreclosures and vacancies are a problem throughout much of the United States, some states have been hit harder than others. New data from the Census Bureau shows Florida has the highest home vacancy rate in the country:

On Thursday, the Census Bureau revealed that 18% — or 1.6 million — of the Sunshine State’s homes are sitting vacant. That’s a rise of more than 63% over the past 10 years…

The vacancy problem is more dire in Florida than in any other bubble market: In California, only 8% of units were vacant, while Nevada, the state with the nation’s highest foreclosure rate, had about 14% sitting empty. Arizona had a vacancy rate of about 16%.

In Florida, the worst-hit county is Collier — home of Naples — with a whopping 32% of homes empty. In Sarasota County, 23% of the housing stock sits vacant, while Lee County (Cape Coral) has a 30% vacancy rate. And Miami-Dade County has a vacancy rate of about 12%.

The article goes on to say that the problem of vacancies has grown partly due to a slow-down in population growth in the state in the late 2000s. Additionally, the large number of vacancies has helped lower housing values: “The median price for homes sold in January was just $122,000, according to the Florida Association of Realtors. That was down 7% from 12 months earlier and less than half the price at the peak of the market.”

It would be interesting to see new or recent studies that look at how these vacancies impact community and neighborhood life. Beyond the economic impact, how does having a large percentage of empty houses effect interactions that people have with each other?

Also, how exactly are vacancy and foreclosure statistics related? Nevada has the highest level of foreclosures but a lower rate of vacancies – is this because more people have actually gone through the foreclosure process?

(If you want some insights into how the Census Bureau calculates different vacancy rates, see here. This would have been helpful information for an earlier discussion about seemingly different vacancy statistics.)

Gated communities on HGTV

Posted on by

As someone who studies suburbs and housing, I admit enjoying watching people choose homes on HGTV on shows like House Hunters. I’ve noticed that one factor that occasionally influences the choice of homes is whether it is located in a gated community. A few thoughts about this topic, gated communities, which has attracted more attention from sociologists and planner in the last two decades:

1. On these shows, the gated communities often pop up in the South or West, particularly in Florida or California.

2. We rarely see any evidence of the gated community like the entryway to the neighborhood (a fake guardhouse or a real guardhouse?)  or a fence around the entire neighborhood. We are simply told that the suburban home is in a gated community.

3.  At least when making their choices on screen, the people rarely talk much about the fact that a home is in a gated community. This is probably due to the fact that the show is supposed to be about the home and not the neighborhood. (So how about a new show where it is less about the individual housing unit and more about selecting a neighborhood?)

4. The homes in the gated communities vs. those that are not in a gated community look very similar. Ultimately, it is really rare that anyone on this show is selecting a home that is in a “unsafe neighborhood.” As sociologists have suggested, living in a gated community is often a decision made regarding some amorphous outside threat. They are devices that portray a certain image while also acting as reassurance for residents. As some have shown, like Setha Low in Behind the Gates, some suburban residents feel very afraid even when they live in exclusive, upscale neighborhoods. The gates in many neighborhoods don’t really keep people out but they help the residents feel better.

How winning on minor technicalities can lead to a 25 year foreclosure battle

Posted on by

As lenders have recently had to slow down the foreclosure process because of running into trouble for not properly following procedures, the Wall Street Journal reports on another cautionary tale: one woman in Florida has stretched out her foreclosure for 25 years, not making a payment since 1985. According to the story, this has happened because the woman has been able to make successful arguments in the courts:

She has managed to stave off the banks partly because several courts have recognized that some of her legal arguments have some merit—however minor. Two foreclosure actions against her, for example, were thrown out because her lender sat on its hands too long after filing a case and lost its window to foreclose.

Ms. Campbell, who is handling her case these days without a lawyer, has learned how to work the ropes of the legal system so well that she has met every attempt by a lender to repossess her home with multiple appeals and counteractions, burying the plaintiffs facing her under piles of paperwork.

She offers no apologies for not paying her mortgage for 25 years, saying that when a foreclosure is in dispute, borrowers are entitled to stop making payments until the courts resolve the matter.

“This is every lender’s nightmare,” says Robert Summers, a Stuart, Fla., real-estate lawyer who represents Commercial Services of Perry, an Iowa-based buyer of distressed debt that currently owns Ms. Campbell’s mortgage and has been trying to foreclose. “Someone defending a foreclosure action can raise defenses that are baseless, but are obstacles for the foreclosing lender,” he says, calling the system “an unfair burden” for lenders.

I don’t know if the system is “unfair” for lenders but it is remarkable that the woman is openly guilty about not making a payment and yet is still able to win in court. Could lenders be this bad on following procedures? Or is the law really this in favor of people who haven’t made mortgage payments?