Expensive housing markets are about to cross a symbolic threshold.
For the first time, Fannie Mae and Freddie Mac will back mortgages of more than $1 million in the country’s most expensive regions.
According to a paywalled article by Andrew Ackerman in the Wall Street Journal, the change is “a reflection of the rapid appreciation in home prices nationally over the past few years even as the mortgage market has recently cooled.”
“The maximum size of home-mortgage loans eligible for backing by Fannie Mae and Freddie Mac will rise to $1,089,300 next year in high-cost markets, such as parts of California and New York, from $970,800 this year, the Federal Housing Finance Agency said Tuesday,” according to the article.
FULL STORY: U.S. Government to Backstop Mortgages Above $1 Million in High-Cost Areas
Federal Eviction and Foreclosure Moratorium Extended Until the End of August
Breaking news: a federal moratorium on evictions and foreclosures of single-family mortgages backed by Fannie Mae and Freddie Mac will be extended until at least the end of August. The moratorium had been set to expire at the end of June.
The ADU Movement Grows Around the Country
More states and cities are promoting backyard cottages, converted garages, and other add-on units. Are they making an impact?
Homelessness Among Maryland Seniors Rose 77 Percent Since 2018
The high cost of housing is pushing many older adults into homelessness, while shelters are not equipped to address their specific needs.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
Las Vegas Golf Course to Become Over 1,000 Units of Affordable Housing
The project is part of an initiative to build affordable housing on shuttered golf courses.
Cities and States Taking Action to Limit Rent-Setting AI
Federal prosecutors are charging a software company with using algorithms to artificially inflate rents.
BART to Raise Fares in January
The transit agency says it needs more state and federal support to meet its operating costs and avoid a growing budget gap.
Montreal Bike Share Breaks Ridership Record With 13 Million Rides
The Bixi system introduced a winter pilot project last year, leading to a rise in winter cycling.
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.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners