The housing market decline has left many new suburban tract homes in the Phoenix metro area without buyers.
Signs welcoming prospective homebuyers to the latest patch of desert turned subdivision in the region have less allure these days.
"Across the nation, new-home sales are down by more than 20 percent from their peak last year. Prices fell almost 10 percent in September from a year ago. And that reported drop does not take into account the extras that builders are throwing in free or at steep discounts to lure buyers, which means that effective prices are even lower."
"The reversal in fortune is at its starkest here in the West. For-sale signs in some new subdivisions are so common that Janet L. Yellen, the president of the Federal Reserve Bank of San Francisco, recently described them as 'the new ghost towns of the West.'"
Less than a year ago, the region's fast growth meant that new homes prices easily appreciated $1,000 a week or more.
Read the full story: In Arizona, 'For Sale' Is a Sign of the Times
‘Going backwards:’ Baltimore mayor, students rally against state's transit funding plan
Maryland's proposed six-year plan provides no funding for Baltimore’s BMORE bus program and reduces its road maintenance funding.
Detroit to transform waterfront with $2.2 billion investment
Developers will convert about 18 acres of unused parking lot space into civic spaces.
Mamdani sent nearly 6,000 pied-à-terre tax warnings to homes that didn’t qualify
A judge has ordered the administration to cancel thousands of pied-à-terre tax notices after it sent 35% of them erroneously.
25 states, cities sue the EPA over erased power plant emissions limits
The coalition also intends to sue the EPA for not regulating emissions from gas-fired power plants.
Newsom vetoes giving CA tribes greater voice in water projects
In his veto letter, Newsom said the bill would add ‘uncertainty’ to the state’s fight to secure Californians’ water supplies.
Michigan Senate votes to revise 'lax' dam safety laws
A Bridge Michigan investigation found more than 100,000 Michigan residents live in the floodpath of a high or significant-hazard dam.
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.
City of Thousand Oaks
City of Wisconsin Rapids
Harvard University Graduate School of Design
The Architects Foundation
University of Cincinnati Online
Northern Illinois Transit Authority (NITA)
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello