【摘要】Long-term vacancy—defined as nonseasonal housing units that have been vacant for an unusually long period of time—is a useful measure of excess supply in the housing market. In fact, long-term vacancy is more strongly correlated with indicators of housing market distress than standard measures of vacancy. At the national level, long-term vacancy is relatively uncommon. However, the stock of long-term vacant housing is concentrated in a small number of neighborhoods with high long-term vacancy rates. Some of these neighborhoods have characteristics suggestive of overbuilding during the housing boom, while others have characteristics symptomatic of persistently weak housing demand.

【关键词】Vacancy; Excess housing supply; Housing market distress

【文献来源】Raven Molloy.Regional Science and Urban Economics.2016（7）