Americans who've lost their homes to foreclosure are now looking to rent, tightening up already low vacancy rates and driving up prices. Meanwhile, foreclosed homes sit empty.
"Foreclosures have helped swell the ranks of renters, according to a study released Wednesday by Harvard University's Joint Center for Housing Studies. The study shows that U.S. renter households increased by nearly one million last year -- four times the pace of renter growth from 2003 to 2006 -- to 35.1 million.
Competition for rental properties has pushed up average rents to a record $775 a month, says the Harvard center. Since only about one-third of rental properties are single-family houses as opposed to apartments, it can be hard for foreclosed homeowners to find an equivalent, affordable place to rent, says William Apgar, the center's senior scholar.
And though hundreds of thousands of houses and condos have gone back to the banks that lent money on them, few of these properties are being offered to tenants because lenders don't want to be in the property-management business. So they sit vacant."
FULL STORY: The Accidental Renters
HUD Updates Fair Market Rate Definition
The U.S. Department of Housing and Urban Development announced two actions last week intended to expand the reach of federal housing voucher programs.
U.S. Now Thoroughly Rent Burdened
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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
SFUSD joins a growing list of school districts using their land holdings to address housing affordability challenges faced by their own employees.
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.
Trump Approves Futuristic Automated Texas-Mexico Cargo Corridor
The project could remove tens of thousands of commercial trucks from roadways.
Austin's First Single Stair Apartment Building is Officially Underway
Eliminating the requirement for two staircases in multi-story residential buildings lets developers use smaller lots and more flexible designs to create denser housing.
Atlanta Bus System Redesign Will Nearly Triple Access
MARTA's Next Gen Bus Network will retool over 100 bus routes, expand frequent service.
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)