The narrative about the full recovery of the real estate market from the housing market crash of 2008 is only true in some parts of the country. In fact, an increasing number of homeowners owe more than their homes are worth.
"Despite an overall housing recovery, it’s suddenly becoming more common in several of the nation’s largest cities for homeowners to owe more on their home than it’s worth," according to an article by Darla Cameron and Ted Mellnik.
The article cites a new report from Zillow, which found that the national negative equity rate stalled in the fourth quarter of 2014 for the first time in 2.5 years. Over that time period, "the rate worsened in 21 of the nation’s top 50 housing markets, including Philadelphia, Boston and Houston," report Cameron and Mellnik.
Over a quarter of homeowners are underwater in the metropolitan areas of Virginia Beach, Jacksonville, Las Vegas, Atlanta, Chicago and Memphis. The article includes charts to visualize the ongoing evolution of the problem.
FULL STORY: The cities where houses are suddenly going underwater
The Strong, Prosperous and Resilient Communities Challenge Awards $90 Million
Six regions have been selected for funding as part of the Strong, Prosperous and Resilient Communities Challenge, or SPARCC. A local news outlet reports on the potential benefits of the program for Atlanta.
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.
The Crucial Role of Suburban Voters in the Midterms
Suburban voters were instrumental in preventing a 'red wave' on Election Day and on December 6 in the Georgia U.S. Senate runoff election, enabling the Democrats to win a 51st Senate seat.
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