HUD Secretary Steven Preston said this week that the U.S. is facing a 'fundamental oversupply' of houses, which will continue to weigh down the economy.
"Mr. Preston's comments in a speech in Washington yesterday came as the Commerce Department reported that builders broke ground on the fewest new homes since 1991 last month, signaling that the economy will continue to erode in coming months.
Housing starts fell 6.2 percent in August to an annual rate of 895,000, the fewest since January 1991.
'The home-construction industry is still in a deep recession and will remain there probably for the rest of the year,' said Patrick Newport, an economist at Global Insight Inc. in Lexington, Mass. 'There are just too many houses on the market.'"
FULL STORY: HUD sees glut of homes, subprime loans
Subprime Loans Are Back—Now They're Called Nonprime Loans
Some say that "nonprime" loans will create the same financial ruins as their "subprime" predecessors. Others say the housing market needs ways for more people to buy homes and drive the industry.
The Last Days of the Home Affordable Modification Program
The Washington Post takes stock of the Home Affordable Modification Program (HAMP) in its final days, finding a program hampered by bad faith from large banks and bad oversight by the Treasury Department.
The Case for Making Federal Housing Programs Like HAMP and HARP Permanent
There have been a number of federal and state programs to address the housing and foreclosure crisis. While these programs have helped a lot of people and continue to do so, many people that are qualified still have trouble completing these programs.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.
San Antonio and Austin are Fusing Into one Massive Megaregion
The region spanning the two central Texas cities is growing fast, posing challenges for local infrastructure and water supplies.
Since Zion's Shuttles Went Electric “The Smog is Gone”
Visitors to Zion National Park can enjoy the canyon via the nation’s first fully electric park shuttle system.
Trump Distributing DOT Safety Funds at 1/10 Rate of Biden
Funds for Safe Streets and other transportation safety and equity programs are being held up by administrative reviews and conflicts with the Trump administration’s priorities.
German Cities Subsidize Taxis for Women Amid Wave of Violence
Free or low-cost taxi rides can help women navigate cities more safely, but critics say the programs don't address the root causes of violence against women.
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.
planning NEXT
Appalachian Highlands Housing Partners
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie