With housing values and sales continuing to plummet along with other major economic indicators, the concern should be about preventing a second great depression, not paying down the deficit, writes Dean Baker.
"[L]et's start with the bad news. The National Association of Realtors reported that existing home sales fell below 4.5 million for the first time since the mid-90s. They also reported that the median house price dropped another $5,400 in January or 3.1%.
Since July, this series shows a drop in the median home price of 18.9%. Other data also showed house prices in a free fall, most notable the commerce department's series on new home sales, which showed a drop of 10% in the median price between December and January. With vacant housing units at record levels, and many potential home buyers no longer having the equity in their current homes for a down payment, it is difficult to see how this free fall stops any time soon.
Remarkably, much of the discussion of the budget did not focus on Obama's agenda, but rather his deficit targets...[But] with the economy plummeting, the first priority of the administration and Congress must be to boost the economy."
FULL STORY: Staving off another Great Depression
The Natalist Case For Sprawl (And Why It Fails)
Some commentators defend anti-urban government policies such as exclusionary zoning on the basis that homeowning suburbanites have high birth rates. But this doesn't seem to be true in recent decades.
Louisville Launches ‘Anti-Displacement Tool’
After a years-long, tenant-led effort, Louisville will use a new tool to analyze whether a proposed housing development can meet a neighborhood’s housing needs and income levels. If it doesn’t, the city won’t subsidize it.
America’s Housing Crisis: Lessons Ignored and Challenges Ahead
A recent study reveals how decades of policy missteps, demographic shifts, and economic forces fueled America’s housing crisis, leaving millions — especially millennials — struggling amid rising demand, racial disparities, and climate-driven emergencies.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
DARTSpace Platform Streamlines Dallas TOD Application Process
The Dallas transit agency hopes a shorter permitting timeline will boost transit-oriented development around rail stations.
Renters Now Outnumber Homeowners in Over 200 US Suburbs
High housing costs in city centers and the new-found flexibility offered by remote work are pushing more renters to suburban areas.
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.
Supreme Court Ruling in Pipeline Case Guts Federal Environmental Law
The decision limits the scope of a federal law that mandates extensive environmental impact reviews of energy, infrastructure, and transportation projects.
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.
Municipality of Princeton
Roanoke Valley-Alleghany Regional Commission
City of Mt Shasta
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)