Mortgage Crisis
Housing Comeback in 2010?
An industry expert predicted at ULI's fall meeting that the new home market could pick back up by 2010, followed by a rally in the resale market in 2011.
HUD Announces Mortgage Guidelines- But Can't Enforce Them
The Department of Housing and Urban Development says the new rules will help buyers understand broker's fees will limit fee increases, and they are currently seeking legislation to give them the power to enforce the rules.
A Town Underwater
Almost 90% of the homeowners in Mountain House, CA, a planned smart growth community in the Central Valley, owe more on their mortgages than their homes are worth- the highest percentage in the country.
In Poor Housing Market, Workers Won't Relocate
Afraid of losing their investment in a down market, homeowners aren't moving out of their neighborhoods - even if their jobs do.
One Developer's Outlook
Dawanna Williams of Dabar Development Partners discusses the narrower options for mid-sized developers in the current financial climate.
Real Estate Market Won't Hit Bottom 'Til 2009
The Urban Land Institute reports on their new study, which predicts the real estate market will hit bottom in 2009 and 'flounder' through 2010.
Investing in Communities During the Mortgage Crisis
Former Indianapolis Mayor Stephen Goldsmith is impressed by Mayor Christopher B. Coleman's efforts to revitalize depressed areas of his city, St. Paul. Coleman keeps the focus on increasing local investment through his 'Invest St. Paul' program.
Ghost Town in Yorkville
Yorktown was a booming exurb of Chicago, until the mortgage crisis put the kibosh on a number of developments in progress. Residents of these 'ghost towns' find themselves stuck with properties they can't sell.
One-in-Six Homeowners 'Underwater'
Some 12 million households now owe more on their mortgages than their homes are worth, leading economists to worry that foreclosures will continue to rise.
Under McCain, Homeowners to Get a Direct Boost
Upon gaining the presidency, Senator McCain would make the federal government spend part of its bailout money on bad home mortgages, allowing homeowners to stay put and make payments that reflect their homes' lessened values.
Greenwich Facing 'Financial Tsunami'
Greenwich, Connecticut is a rich enclave of hedge fund managers- and thus is feeling the pain of the current financial crisis like a ton of bricks. Ned Lamont, a Greenwich resident who ran for Senate in 2006, says, 'This is our Katrina.'
HUD Says 'Too Many Houses on the Market'
HUD Secretary Steven Preston said this week that the U.S. is facing a 'fundamental oversupply' of houses, which will continue to weigh down the economy.
Fannie and Freddie Go Federal
The government takeover of Fannie Mae and Freddie Mac will likely bring lower interest rates, but tighter eligibility requirements and stricter monitoring of underwriting.
Foreclosures Gone Wild
A foreclosed home in Lake Elsinore, CA has attracted some new residents- a family of bobcats.
Fighting Blight, Cities Become Realtors
Boston, Minneapolis and San Diego are flipping houses in an effort to prevent neighborhood blight- a strategy that appears to be working.
New Daleville, Witold Rybczynski's Subject, is Failing
Witold Rybczynski wrote The Last Harvest about a new development being created in an exurban cornfield. NPR visits the half-finished community with Witold, which is suffering from the economic crisis.
Cities in a State of Rapid Decay
While the mortgage crisis has hit hard in California and other prosperous regions, the cities that are sliding fastest into decline are still in the Rust Belt, with disappearing populations and bleak job prospects.
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.
A Greener Fannie and Freddie?
Friends of the Earth president Brent Blackwelder and journalist James S. Henry believe that the federal bailout of Fannie Mae and Freddie Mac needs to come with some very green strings attached.
Exurbs Hit Hard by Housing Crisis
Exurban developments are struggling to control their rampant foreclosure rates and plummeting housing values.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
City of Universal City TX
ULI Northwest Arkansas
Town of Zionsville
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