If you pay a 20% down payment for a home, you’re making a leveraged bet that the home will maintain or grow its value.
There's a lot of policy aimed at pushing Americans toward home ownership. Joe Cortright argues that impetus can push homebuyers toward a risky bet. "Whether homeownership turns out to be a wealth-building, or wealth destroying endeavor depends a lot on timing and luck–you have to buy the right house, at the right time, in the right neighborhood, for the right price," writes Cortright.
Cortright argues that one problem in the housing market is a wealth of biased information. It will always be in realtor’s interest to tell buyers it’s a great time to get into the housing market. Often it’s not: 30% of homes are worth less money five years after they’ve been sold. And the loss of value of a home is all the more punishing when a buyer has gone into debt to make the purchase.
FULL STORY: Why homeownership is frequently a bad bet
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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.
Alamo Area Metropolitan Planning Organization
Village of Glen Ellyn
City of Laramie
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners