One in ten Chicago homes is currently underwater, more than double the national average.
Chicago has more homes underwater than any other city in the country, more than New York (the city with the second most homes underwater) and Los Angeles combined. "At the end of 2017, more than 135,000 Chicago-area home borrowers owed more on the mortgage than the property was worth, according to a report released by property data firm CoreLogic," writes Dennis Rodkin.
This is keeping some home owners in their current homes, because even those not at risk of foreclosure can't afford to put their homes on their market and lose the difference between what they owe on the house for and what it's currently worth. Because of this, both supply and demand fall.
"At year-end, 10 percent of Chicago-area homeowners with a mortgage were underwater. That's twice the nationwide rate of 4.9 percent," Rodkin reports. Miami is the only other large city in the country with a higher rate of underwater home ownership.
FULL STORY: Chicago leads U.S. in underwater homes
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.
A Theory of Gentrification—And Where It Goes Wrong
Does gentrification always follow massive disinvestment?
Understanding Cities Through Their Life Cycles
Cities go through ups and downs over time, and where a city is in its longer history can reveal the reasons behind population changes.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
San Francisco's School District Spent $105M To Build Affordable Housing for Teachers — And That's Just the Beginning
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The Tiny, Adorable $7,000 Car Turning Japan Onto EVs
The single seat Mibot charges from a regular plug as quickly as an iPad, and is about half the price of an average EV.
With Protected Lanes, 460% More People Commute by Bike
For those needing more ammo, more data proving what we already knew is here.
In More Metros Than You’d Think, Suburbs are Now More Expensive Than the City
If you're moving to the burbs to save on square footage, data shows you should think again.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and "harrowing" close calls are a growing reality.
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
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)