Data from the Census shows that 36.7% of U.S. households pay more than 30% of their pretax income on housing, an increase of 1.5 million since 2007.
The economists at the Wall St. Journal puzzle over how this could be, given that mortgage rates have been at record lows. Without coming to any conclusions on the reasons, they note that renters are even worse off:
"While the glut of houses in places such as California and Florida allowed many defaulters to rent luxurious homes for a fraction of their previous mortgage payments, the shift of people from homeowners to renters helped keep rents rising across the country. As a result, in 2009 some 47.7% of renters faced excessive housing costs, up from 45.6% in 2007."
Read the full story: Number of the Week: 41.7 Million Spend Too Much on Housing
Freddie Mac, Fannie Mae to Back $1 Million Mortgages
Expensive housing markets are about to cross a symbolic threshold.
To upzone or not to upzone? Two views on the housing crisis
Allowing more density can increase the housing supply, but does the attendant rise in land prices cancel out the benefits?
Alexandria eviction diversion program will let tenants pay back rent in installments
Eligible tenants will be allowed to make a 10% down payment on the back rent they owe and pay off the rest in installments while remaining in their home.
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