A new study shows that the number of households entering some stage of foreclosure is up 45% over this time last year -- one for every 1,117 U.S. households.
"The number of foreclosures is still low on a historical basis, but it has been rising steadily over the past year, RealtyTrac reported. Job losses in some regions were to blame, but so, too, were risky borrowing practices that left homeowners little wiggle room on their mortgage payments. And with the pace of appreciation stalling and interest rates rising, many economists and industry observers expect the pace of foreclosures to accelerate this year."
"In the last few years, many buyers took out interest-only, variable-rate loans, and in some cases put no money down to afford a house, said Frank Nothaft, chief economist with government-chartered mortgage giant Freddie Mac. He estimates one out of every three loans issued in 2005 was an adjustable rate mortgage. Now that we've seen 14 consecutive interest-rate increases since June 30, 2004, many of these loan rates are bumping up, increasing the size of mortgage payments."
FULL STORY: More Americans are losing their homes
San Diego to Rescind Multi-Unit ADU Rule
The city wants to close a loophole that allowed developers to build apartment buildings on single-family lots as ADUs.
The VW Bus is Back — Now as an Electric Minivan
Volkswagen’s ID. Buzz reimagines its iconic Bus as a fully electric minivan, blending retro design with modern technology, a 231-mile range, and practical versatility to offer a stylish yet functional EV for the future.
Has President Trump Met His Match?
Doug Ford, the no-nonsense premier of Canada's most populous province, Ontario, is taking on Trump where it hurts — making American energy more expensive.
Honolulu's Iwilei Center Plans for Redevelopment Into Mixed-Use Space
Striving to expand affordable housing options for Oahu residents, Honolulu's Department of Land Management requests to redevelop the Iwilei Center into a mixed-use space.
Biketown Lives
Despite public perception of its decline, Portland’s bike share system is alive and well.
‘Stockholm Tree Pit’ Saves Dying Urban Trees
After noticing that two-thirds of its trees were dying, Stockholm developed a new planting method to protect trees surrounded by concrete.
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.
City of Edmonds
Harvard GSD Executive Education
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research