Hong Kong and Singapore experienced a double-digit growth in the housing market. And so did Ireland - albeit in the opposite direction. In the U.S., prices dropped about 5% from last year. What gives?
The Economist reports:
"America's housing market has overshot the fair-value mark, as measured by the long-run average ratio of house prices to rents. Rents are rising: an increase in the cost of rental housing contributed to May's robust American inflation data. With home ownership looking a better deal, prices should stabilise [...] The pace of sales has been sluggish but an index of pending home sales posted a surprisingly large gain in May."
"The best news of all may be the ongoing improvement in credit conditions. Delinquencies have trended downward since late 2009. Consumer-debt payments relative to incomes are at a 17-year low and household credit scores are rising. Banks are still being stingy with credit but households are better positioned than they were to take advantage of cheaper homes."
FULL STORY: Rooms with a view
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San Diego School District Approves Affordable Housing Plan
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New Jersey Affordable Housing Law Turns 50
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Research Shows More Roads = More Driving
A national study shows, once again, that increasing road supply induces additional vehicle travel, particularly over the long run.
Judge Halts Enforcement of Anti-Homeless Laws in Grants Pass
The Oregon city will be barred from enforcing two ordinances that prosecute unhoused residents until it increases capacity and accessibility at designated camping sites.
Advancing Sustainability in Los Angeles County Schools
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Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
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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.
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Learn the tools for implementing Universal Design in planning regulations.
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Harvard GSD Executive Education
NYU Wagner Graduate School of Public Service
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