California Business Minute™

The California Redevelopment Association, (CRA) provides legislative
advocacy, professional development and public education.  In support
of its members it responds to legislative proposals and administrative
regulations.

For further information, contact us www.calredevelop.org or at 916-448-8760

Hi, I am Tim Johnson and welcome to the California Business Minute.

Is housing a toxic investment?  According to recent information by the Census Bureau,
it might be depending upon the location.  The Census Bureau revealed the states and
Metropolitan Statistical Areas where the most housing units are sitting vacant

The vacancy problem is most dire in Florida than in any other bubble market with 24
percent.  It is followed by Maine with 23.7 percent, Vermont with 21.3 percent and
California had only 11.3 percent sitting vacant below the national average of 14.3
percent

Top Ten State with Highest Gross Housing Vacancy

Florida                                        24.0%
Maine                                         23.7%
Alaska                                        21.9%
Vermont                                      21.4%
W. Virginia                                  21.3%
Arizona                                       20.5%
Delaware                                     20.3%
Alabama                                     18.9%
Mississippi                                  18.9%
New Hampshire                            18.9%

Gross Vacancy Rate for Largest MSA in CA 2010
Riverside, San Bernardino             19.9%
Sacramento-Roseville                   14.0%
Bakersfield                                   13.2%
Fresno                                         10.5%
San Diego, Carlsbad, San Marco   10.5%
San Francisco, Oakland, Fremont   9.1%
Oxnard, Thousand Oaks Ventura     7.3%
LA, Long Beach, Santa Ana            7.2%
San Jose, Sunnyvale, Santa Clara   6.4%

I am Tim Johnson and this has been the California Business Minute.