The Obama Administration has outlined plans to assist nearly 4 million homeowners in danger of foreclosure. The total cost to taxpayers runs close to $75 billion.
"People with mortgages as high as $729,750 could qualify for help, and there is no ceiling on how high their income can be as long as they are in danger of losing their homes. Interest rates on loans could go as low as 2 percent for some. Many homeowners could see their mortgage payments drop by several hundred dollars a month, and some could save more than $1,000 a month."
"Administration officials estimate that the plan will help as many as four million people avoid foreclosure, at a cost to taxpayers of about $75 billion. In addition, the Treasury Department said it intended to follow up with a plan to help troubled borrowers with second mortgages, which many homebuyers used as "piggyback" loans to buy houses with no money down."
"The plan is bolder and more expensive than any of the Bush administration's programs, which were based almost entirely on coaxing lenders to voluntarily modify loans. While the number of loan modifications has climbed sharply, the number of foreclosures skyrocketed to 2.2 million at the end of 2008, a record."
Read the full story: U.S. Sets Big Incentives to Head Off Foreclosures
Housing Prices Low, But Not Affordable
The housing market has bombed, bringing prices and values to devastating lows. But despite lower prices, affordable housing is still in too short of supply, according to this piece from Time.
Home values, property tax rises in Texas county after the arrival of SpaceX
The median property tax bill in Cameron County increased by more than 57% over six years.
Zillow Deleted Climate Risk From California Listings. This Climate Expert Wants to Bring it Back.
While difficult to estimate for individual homes, experts argue that home buyers should have access to data about flood and wildfire risk, extreme heat, and other climate hazards in the area.
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.
Philadelphia to invest $2 billion into upgrading city airports as PHL places last in customer satisfaction
Modernizations to Philadelphia's airports will include baggage system upgrades and a new automated parking garage guidance system.
The LA housing policies making developers turn away from the city
Despite LA’s housing shortage, developers say the city’s "mansion-tax" and pandemic-era policies make it an unappealing place to build housing.
New density bill would require 7 California cities to establish regional transit hubs
The bill would also require major cities in California to permit high-rise residential buildings.
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 Wisconsin Rapids
Harvard University Graduate School of Design
KFH Group Inc.
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello