Hong Kong and Singapore experienced a double-digit growth in the housing market. And so did Ireland - albeit in the opposite direction. In the U.S., prices dropped about 5% from last year. What gives?
The Economist reports:
"America's housing market has overshot the fair-value mark, as measured by the long-run average ratio of house prices to rents. Rents are rising: an increase in the cost of rental housing contributed to May's robust American inflation data. With home ownership looking a better deal, prices should stabilise [...] The pace of sales has been sluggish but an index of pending home sales posted a surprisingly large gain in May."
"The best news of all may be the ongoing improvement in credit conditions. Delinquencies have trended downward since late 2009. Consumer-debt payments relative to incomes are at a 17-year low and household credit scores are rising. Banks are still being stingy with credit but households are better positioned than they were to take advantage of cheaper homes."
FULL STORY: Rooms with a view
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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.
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Learn the tools for implementing Universal Design in planning regulations.
New York City School Construction Authority
Village of Glen Ellyn
Central Transportation Planning Staff/Boston Region MPO
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions