adelaide northern suburbs rental vacancies 10%

http://m.yahoo.com/w/web/video?u=url%5B%5D%3D26726571&lg=yep

Did you catch channel 7 news tonight?

Rental vacancies has doubled in three months with landlords interviewed saying its the worst in 20 years. They have rentals empty and no one is attending the open inspections, forcing them to slash rents.

According to the segment, the vacancy rate in the Northern Suburbs is now 10%.

Strange when you consider new home building is down to levels not seen in decades, there is an oversupply of houses for sale and now the availability of rentals is outstripping demand. I suspect this concept of a shortage of homes that will put a floor under prices is all but busted.