Tuscon AZ housing bust

Now might be the time to buy that retirement home in Tuscon.

“1. Tucson, AZ
> Homeowner vacancy rates: 6.8% (1st)
> Rental vacancy rates: 15.9% (6th)
> Total housing units: 440,909
> Unemployment: 7.8%

“Tucson’s homeowner vacancy rate was 3.2% one year ago. It is now over double that. The city had a booming residential housing market before the crash. Since then, demand is so low that median home prices have dropped 18% in the past year and 33% since 2008. In addition, the city has among the highest rate of foreclosures in the country.”
America’s 10 Sickest Housing Markets

Yikes.

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