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."
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.
Quantifying the Impact of Pandemic Housing Assistance
The massive federal injection of funding into housing programs has had major impacts on many Americans’ ability to stay housed and out of debt, but fears loom as the end of some funding sources nears.
Quantifying the Losses Caused by New Freeways
Data shows cities lose millions in potential property taxes when highways displace homes and businesses.
Seattle Legalizes Co-Living
A new state law requires all Washington cities to allow co-living facilities in areas zoned for multifamily housing.
Central Florida’s SunRail Plans Major Expansion
The expanded train line will connect more destinations to the international airport and other important destinations.
NYC Officials Announce Broadway Pedestrianization Project
Two blocks of the marquee street will become mostly car-free public spaces.
Harnessing Waste Heat Through Thermoelectricity
Heat from industrial installations and buildings can be captured to create renewable electricity.
Major US Cities Still Suffering Downtown Decline
Research shows that the “donut effect” hollowing out central business districts since the pandemic continues to cause economic decline in the 12 largest American cities.
Terre Haute Transit Goes Fare-Free
Buses in the Indiana city will be free as of January 2.
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.
Los Alamos County
City of Culver City
Skagit Transit
American Planning Association, Sustainable Communities Division
HUDs Office of Policy Development and Research
HUDs Office of Policy Development and Research
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners