HUD Secretary Steven Preston said this week that the U.S. is facing a 'fundamental oversupply' of houses, which will continue to weigh down the economy.
"Mr. Preston's comments in a speech in Washington yesterday came as the Commerce Department reported that builders broke ground on the fewest new homes since 1991 last month, signaling that the economy will continue to erode in coming months.
Housing starts fell 6.2 percent in August to an annual rate of 895,000, the fewest since January 1991.
'The home-construction industry is still in a deep recession and will remain there probably for the rest of the year,' said Patrick Newport, an economist at Global Insight Inc. in Lexington, Mass. 'There are just too many houses on the market.'"
Read the full story: HUD sees glut of homes, subprime loans
Subprime Loans Are Back—Now They're Called Nonprime Loans
Some say that "nonprime" loans will create the same financial ruins as their "subprime" predecessors. Others say the housing market needs ways for more people to buy homes and drive the industry.
The Last Days of the Home Affordable Modification Program
The Washington Post takes stock of the Home Affordable Modification Program (HAMP) in its final days, finding a program hampered by bad faith from large banks and bad oversight by the Treasury Department.
The Case for Making Federal Housing Programs Like HAMP and HARP Permanent
There have been a number of federal and state programs to address the housing and foreclosure crisis. While these programs have helped a lot of people and continue to do so, many people that are qualified still have trouble completing these programs.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Dallas moves to overhaul its zoning code
The city's zoning reform will allow more multi-family and mixed-use developments.
Not in my parking spot: LA renters oppose ADU development in their garages
Some tenants advocates say taking away residents’ parking spaces harms senior citizens and people with disabilities who rely on their cars to navigate the city.
NITA’s first budget outlines $5 billion operating plan
The plan also proposes a $9.73 billion capital program for 2027 through 2031.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
City of Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority