One in ten Chicago homes is currently underwater, more than double the national average.
Chicago has more homes underwater than any other city in the country, more than New York (the city with the second most homes underwater) and Los Angeles combined. "At the end of 2017, more than 135,000 Chicago-area home borrowers owed more on the mortgage than the property was worth, according to a report released by property data firm CoreLogic," writes Dennis Rodkin.
This is keeping some home owners in their current homes, because even those not at risk of foreclosure can't afford to put their homes on their market and lose the difference between what they owe on the house for and what it's currently worth. Because of this, both supply and demand fall.
"At year-end, 10 percent of Chicago-area homeowners with a mortgage were underwater. That's twice the nationwide rate of 4.9 percent," Rodkin reports. Miami is the only other large city in the country with a higher rate of underwater home ownership.
FULL STORY: Chicago leads U.S. in underwater homes
Report: Transit Oriented Development Leads the Market in Major Metros
A report released last week by Cushman & Wakefield has won a lot of attention from media outlets covering large-scale development market trends. Among the report's findings: growing cities need to better support transit-oriented development.
A Theory of Gentrification—And Where It Goes Wrong
Does gentrification always follow massive disinvestment?
Understanding Cities Through Their Life Cycles
Cities go through ups and downs over time, and where a city is in its longer history can reveal the reasons behind population changes.
Alabama: Trump Terminates Settlements for Black Communities Harmed By Raw Sewage
Trump deemed the landmark civil rights agreement “illegal DEI and environmental justice policy.”
Study: Maui’s Plan to Convert Vacation Rentals to Long-Term Housing Could Cause Nearly $1 Billion Economic Loss
The plan would reduce visitor accommodation by 25% resulting in 1,900 jobs lost.
Why Should We Subsidize Public Transportation?
Many public transit agencies face financial stress due to rising costs, declining fare revenue, and declining subsidies. Transit advocates must provide a strong business case for increasing public transit funding.
Paris Bike Boom Leads to Steep Drop in Air Pollution
The French city’s air quality has improved dramatically in the past 20 years, coinciding with a growth in cycling.
Why Housing Costs More to Build in California Than in Texas
Hard costs like labor and materials combined with ‘soft’ costs such as permitting make building in the San Francisco Bay Area almost three times as costly as in Texas cities.
San Diego County Sees a Rise in Urban Coyotes
San Diego County experiences a rise in urban coyotes, as sightings become prevalent throughout its urban neighbourhoods and surrounding areas.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Smith Gee Studio
Alamo Area Metropolitan Planning Organization
City of Santa Clarita
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Toledo-Lucas County Plan Commissions
Salt Lake City
NYU Wagner Graduate School of Public Service