The decline in housing prices during the Great Depression of the thirties peaked at a average loss of 25.9%. In November of last year, the current decline ticked past that landmark to hit 26%.
While signs are still looking up for the economic climate as a whole, housing prices failed to stabilize or grow at the end of 2010, according to Zillow.
The San Jose Mercury News reports that November "marked the 53rd consecutive month of home value declines, with the Zillow Home Value Index (ZHVI) falling 0.8% from October to November, and falling 5.1% year-over-year."
But Jonathan Berr at the 24/7 Wall Street blog says Zillow's data smells fishy:
"For one thing, the Zillow Home Value Index describes itself as 'the Mid-point of Zestimate valuations for the US.' The Zestimate, for the uninitiated, is 'Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value.'"
Read the full story: Home value declines surpass those of Great Depression
Home Prices Expected to Hit a Coronavirus Speed Bump in 2020
A report by Zillow predicts a sudden reversal for the housing market, which has been soaring in many places around the country ever since the worst of the financial crisis and housing market crash of the Great Recession.
Zillow: Suburbs Becoming More Like Cities
According to the real estate website, urban home values are growing faster than those in the suburbs, bucking a longtime trend. This isn't exactly surprising, but it has serious social justice implications.
The ‘Lock-In Effect’ Keeping Home Prices High
Housing prices dropped slightly last year, but first-time and middle-income buyers found little price relief due to the “lock-in effect” of the historically low interest rates in effect for more than a decade prior to 2022.
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.
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.
Chicago voters approve permanent festival grounds, penalty for vacant property owners
Currently, major summer and fall festivals take over public parks for weeks at a time, drawing criticism from nearby residents
NYC votes to cut outdoor dining red tape, speed up permitting
New York City also voted to allow the Department of Transportation to begin work on urgent projects before notifying elected officials.
California appears to reject Prop. 45
The proposition would have expanded the projects that qualify for a streamlined environmental review, effectively paring down the California Environmental Quality Act.
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