2004 saw record growth in the housing market, but a shift in the economy could be disasterous to owners.
"This years State of the Nations Housing report from the Joint Center for Housing Studies cautions that creative financing is adding to risk. Although interest-only and adjustable loans can initially save a typical home buyer hundreds of dollars in monthly payments, these loans also leave borrowers vulnerable to sharply higher payments when interest rates adjust or principal payments start to become due. With the number of borrowers vulnerable to payment shocks up, default rates predictably several times higher for subprime than prime loans, and house prices growing at such rapid rates, the housing market could deteriorate if the economy softens or if rates increase sharply, explains Retsinas."
Thanks to Brenda Meyer
Read the full story: Hot Housing Market Masks Eroding Affordability and Mounting Risks, Harvard Study Reports
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
NYC DOT wants faster, more permanent street upgrades
The city is examining ways to build more concrete infrastructure without getting entangled in 'decades-long' projects.
'Something we’ve never seen before:' rising utility rates could strain city finances nationwide
Data centers, climate change and other factors have caused utility rates in the United States to increase by 38% since 2020.
Trump to overrule local leaders, lease millions of acres of America’s Pacific Island territories’ seafloors to mining companies
International law says that the Indigenous people of America’s territories have a right to prior and informed consent regarding projects that impact their countries.
FREE Course: Walkable City 1: Why Walkability?
After describing his path towards focusing on walkability as the essence of good planning, Jeff Speck marches through his five principal reasons for making more walkable places.
Reinventing Malls: Planning Alchemy—Turning Gray Fields Into Gold
The course focuses on the opportunities and imperatives that shape reinvention of mall sites.
Harvard University Graduate School of Design
KFH Group Inc.
Greater Baltimore Committee
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello