Peter Coy and Prashant Gopal report on recent developments in the housing market that may signal a solution to the four-year-old crisis.
Although housing prices continue to sink in many communities, Coy and Gopal think that policy makers and big banks are finally taking the necessary steps to deal with the foreclosure crisis and underwater homeowners.
"Lenders and government agencies have finally begun to understand how to deal with the crash by efficiently saving the homes of people who can afford to stay in them-and quickly recycling the properties of delinquent borrowers who are beyond hope. That triage, while painful, is a prerequisite for the eventual recovery of the housing market."
According to Coy and Gopal, "Unclogging the legal and financial system is key to the recovery. The latest improvement is an upsurge in lenders' enthusiasm for short sales as an alternative to foreclosures."
And yesterday's announced settlement over flawed foreclosure practices is adding to the sense that progress is being made on the foreclosure front as the agreement will "keep many struggling borrowers in homes they might otherwise lose."
FULL STORY: A Solution to the Housing Crisis Could Be at Hand
Lessons from the Last Housing Crisis: How to Get Control of Properties
How to keep affordable apartments and single-family homes out of the hands of institutional investors if the coronavirus pandemic leads to a giant wave of evictions and foreclosures.
August Expiration Date for Federal Foreclosure Moratorium Raises Concerns
The housing market has yet to devolve like in 2008, thanks to a federal safety net put in place in March, but a wave of foreclosures is still a possibility as protections begin to expire.
Foreclosures Surge in Maryland, as Second Wave of Housing Crisis Crashes
The housing crisis is alive and well in Maryland, as a second wave of foreclosures inundates the state. Though thousands of residents may be forced out of their homes, experts are confident the properties "will be snatched up quickly."
What ‘The Brutalist’ Teaches Us About Modern Cities
How architecture and urban landscapes reflect the trauma and dysfunction of the post-war experience.
‘Complete Streets’ Webpage Deleted in Federal Purge
Basic resources and information on building bike lanes and sidewalks, formerly housed on the government’s Complete Streets website, are now gone.
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.
Healing Through Parks: Altadena’s Path to Recovery After the Eaton Fire
In the wake of the Eaton Fire, Altadena is uniting to restore Loma Alta Park, creating a renewed space for recreation, community gathering, and resilience.
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.
Electric Vehicles for All? Study Finds Disparities in Access and Incentives
A new UCLA study finds that while California has made progress in electric vehicle adoption, disadvantaged communities remain underserved in EV incentives, ownership, and charging access, requiring targeted policy changes to advance equity.
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 Albany
UCLA Lewis Center for Regional Policy Studies
Mpact (formerly Rail~Volution)
Chaddick Institute at DePaul University
City of Piedmont, CA
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research