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Well, this is no good.

Harvard University has a new study out today about vacancy rates: One in nine properties is now empty, a record number, according to an article in USA Today.

One of the most common, enduring images of the real estate glut is rows of half-finished model homes on the edge of the L.A. or Las Vegas suburbs. As the article points out, “Historically, vacant housing was more of a concern in cities that have poor neighborhoods. Now, it has hit suburbs and new subdivisions.”

Image by Banick, Flickr Creative Commons