A recent study from the Government Accountability Office (GAO) found that vacant properties across the United States rose 51 percent over the span of a decade, from nearly 7 million in 2000 to 10 million in April 2010. Ten states saw vacancies go up by 70 percent or more as a result of high foreclosure rates. The elevated number of vacant homes carries with it a hefty price tag for lenders that must resume ownership after foreclosure, but GAO says it’s local governments that are feeling significant pressure from the rise in home vacancies.
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