Like a lot of stats, one has to sit back and think of the definition and not let intuition or feelings get in the way. I can't comment on whether that is or is

Like a lot of stats, one has to sit back and think of the definition and not let intuition or feelings get in the way. I can't comment on whether that is or isn't high, but I've got some experience trying to calculate such in Australia. You've got to take into account: - abandoned yet still livable homes - new construction not yet moved into - houses currently in the state of being sold - old buildings not yet demolished - airbnb and short term rentals currently sitting empty: seasonal housing usually makes up a large extent of vacant housing in a country - accomodation for workers/fly-in-fly-out workforce - rentals currently vacated because they can't find a tenant - rentals currently tenanted but not being occupied (because of moving in/out consecutively with other properties) - holiday homes not being used The Aussie census also calculates about 11% of homes being vacant on census night. Like with employment markets, most people seriously underestimate the true 'state of natural churn' in these stats that can be found in a modern day country/economy, and just form a picture in their head of an apartment block just sitting there doing nothing all the time or wonder why people aren't being housed in them.