New figures from the National Association of Realtors show that the number of new homes being built and the number of homes being sold were both down during May.
Economists tie the downturn in the housing market with continued low performance in job creation and high unemployment figures.
"Reflecting on the housing figures, the National Association of Realtors' chief economist, Lawrence Yun, said in a statement that job creation was one of the critical elements that would determine whether the housing market could grow without federal stimulus.
The association said its index, which tracks pending home sales, fell in May, after the government tax credit for home buyers expired. The index for contracts signed in May fell by 30 percent, to 77.6, down from 110.9 in April. The index is down nearly 16 percent from where it stood in May 2009, the association said."
FULL STORY: Home Sales and Building Slowed in May

Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?

Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.

Wildlife Rebounds After the Eaton Fire
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LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
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