James Surowiecki dispels the myth that banks are better off renegotiating mortgage then foreclosing.
Surowiecki also goes over the current strategies for helping homeowners hold on.
"If we really want to keep people in their homes, then, nudges and renegotiations probably aren't going to do it. We need more direct action. One option, which the banking lobby killed earlier this year, would be to allow "cramdowns": let bankruptcy judges reduce the principal on homeowners' mortgages. Another, even more direct option is simply to give aid to homeowners: one proposal would have the government make low-interest loans, or even grants, to people who have suffered a steep decline in income and have negative equity in their homes."
FULL STORY: Not Home Yet
The Futility of Foreclosure Moratoriums
Christopher Leinberger argues that regardless of current coping strategies, the mortgage crisis is permanently reshaping cities and their edges.
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 City of Broken Sidewalks
Can Los Angeles fix 4,000 miles of broken sidewalks before the city hosts the 2028 Olympic Games?
Shifts in Shopping: Transforming Malls Into Parks
Maybe zombie malls still have a second life — one with a little greenery.
To Build More Housing, Cities Must Be Smarter in How They Use Land
How strategic land use policy decisions can alleviate the housing crisis and limit unsustainable sprawl.
Omaha Streetcar Yielding $1.5 Billion in TIF Funds
The line, scheduled for completion in 2027, is bringing billions in new investment to the city’s urban core.
NYC’s Proposed Zoning Reforms Lag Behind Other Cities
Cities like Austin and Minneapolis are making major changes to their zoning codes to encourage housing construction, but New York’s proposed reforms are far less ambitious.
Why Traffic Never Gets Better
Despite abundant research showing that roadway expansions provide limited congestion relief and increase long-term traffic problems, they still occur due to wishful thinking: advocates claim that “this” project is different.
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.
City of Prescott
Alamo Area Metropolitan Planning Organization
Village of Glen Ellyn
HUDs Office of Policy Development and Research
CORP - COnsulting Research Projects
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners