New, Unfinished Housing Turns to Ghost Town

Early buyers in new housing developments are finding themselves stranded in virtual ghost towns as developers go belly up.

1 minute read

August 5, 2008, 2:00 PM PDT

By Tim Halbur


"Since real-estate tanked, many new planned communities across the country are half-empty, with for-sale signs outnumbering residents by a large margin.

Some of the projects abandoned by bankrupt developers are in places that were hotbeds of new housing construction: Southern California, Atlanta, Las Vegas, Phoenix. As of July, the percentage of vacant housing stock available for sale or rent stood at 4.8 percent nationally, the highest figure in at least 33 years, according to Zelman & Associates, a real-estate research firm.

Daily life in these developments seems a bit post-cataclysmic. Children play on elaborate but empty playgrounds. They walk their dogs past rows of shiny houses that have never been lived in. Voices echo up and down the block. Unfinished houses and vacant lots strewn with construction debris clutter the horizon."

Monday, August 4, 2008 in Wall St. Journal

View form second story inside Southdale Mall in Edina, Minnesota with escalators and model cars parked on downstairs floor.

The Mall Is Dead — Long Live the Mall

The American shopping mall may be closer to its original vision than ever.

March 21, 2024 - Governing

Houston, Texas skyline.

Report: Las Vegas, Houston Top List of Least Affordable Cities

The report assesses the availability of affordable rental units for low-income households.

March 22, 2024 - Urban Edge

View of Austin, Texas skyline with river in foreground during morning golden hour.

The Paradox of American Housing

How the tension between housing as an asset and as an essential good keeps the supply inadequate and costs high.

March 26, 2024 - The Atlantic

Aerial view of Anchorage, Alaska downtown with mountains in background at golden hour.

Anchorage Leaders Debate Zoning Reform Plan

Last year, the city produced the fewest new housing units in a decade.

44 minutes ago - Anchorage Daily News

Young man in wheelchair crossing zebra crosswalk.

How to Protect Pedestrians With Disabilities

Public agencies don’t track traffic deaths and injuries involving disabled people, leaving a gap in data to guide safety interventions.

1 hour ago - Governing

Aerial view of mountain town of Steamboat Springs, Colorado in the winter with snow at dusk.

Colorado Town Fills Workforce Housing Need With ‘Dorm-Style’ Housing

Median rent in Steamboat Springs is $4,000 per month.

2 hours ago - CBS News

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

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.