The Wall St. Journal reports that some homeowners are selling their underwater homes at a loss and turning right around and investing in new homes with lower mortgage rates and getting more house in the process.
Why invest in a market that has already burned you badly? Historically low mortgage rates mean that buyers can buy new homes and keep their monthly payments low even though the new homes are more expensive.
M.P. McQueen has the story:
"The attractive terms are spurring people like Scott Ayler, 35 years old, into action. He and his wife, Jaclyn, 33, recently decided to trade up to a larger home in their native Denver, despite taking a loss on their current house."
Read the full story: Doubling Down on Housing
A Case Against Homeownership
Against all odds, both political parties agree on at least one thing: the merits of homeownership. But is buying a home really such a great investment, even for the well-off?
Housing Market Makes Full Recovery for Wealthy Americans
Dina ElBoghdady and Dan Keating report on the state of the real estate market as it concerns the wealthiest Americans—times are good if you are wealthy and looking to borrow money to buy a home.
The Federal Housing Administration's Ongoing, Systematic Obstruction of Density
Scott Beyer writes that despite changes to policies allowing insured mortgages by the Federal Housing Administration's (FHA), the federal government continues to obstruct density by limiting support for condo owners.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Chicago breaks ground on $3 billion megadevelopment
The new neighborhood, titled Foundry Park, will one day host 3,700 residences.
California High-Speed Rail Authority CEO resigns after $600,000 scandal
Under Ian Choudri, the authority used taxpayer dollars to fund first class flights and trips to nightclubs.
Want to study the Missouri River? Soon, you may need unanimous approval from 10 states
Legislation would require 10 governors’ permission to study or build projects moving water outside the basin.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
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 Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority