Apartment rents rise as housing sales remain rocky, foreclosure rates increase, and mortgage requirements increase.
Fourth quarter vacancy rates are at a decade low. The tight rental market has led to rent increases nationwide with markets in San Francisco and San Jose experiencing the greatest jump. A rebounding tech industry also drove higher rents in Austin, Texas and Chattanooga, Tennessee.
Although New York made the list, ranking fifth-highest for rent increases highlights the effects of a wounded financial sector and market with existing high rents already close to their limit.
In response to rising foreclosures and stringent mortgage standards developers and families turned to the rental market as a solution. New rental units are expected to relieve the tight vacancy market, specifically on the west coast within the next year. Despite optimistic reports of multifamily construction rebounding, only 38,000 new units were built last year representing an all-time low in the last thirty years.
Thanks to Elaine Mahoney
Read the full story: US Apartment Vacancies Hit Ten Year Low
HUD Updates Fair Market Rate Definition
The U.S. Department of Housing and Urban Development announced two actions last week intended to expand the reach of federal housing voucher programs.
U.S. Rental Market Crosses a New Threshold of Affordability
In a first for the country's rental market, most U.S. apartments are asking for more than $2,000 to rent, according to data recently published by Redfin.
Apartment Construction Ramps Up to Meet New Demand
It's unclear if or when the supply of entry level rental housing options will catch up with the demand, but some cities are building quickly.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Amtrak, CN end decades-long dispute with eight-year agreement
The new operating agreement establishes an updated framework for the companies to work together, including processes to resolve disputes.
Northwest rail fans eager for Sept. 30 debut of Amtrak’s Airo fleet
Get ready for that new train smell and more seats. But they won’t go faster or run more frequently on the Cascades route in Washington and Oregon.
Trump administration unlawfully slashed $7 billion in clean energy grants, judge rules
The Environmental Protection Agency ended the Solar For All program, which provided the grants, after President Donald Trump’s inauguration.
Record-breaking wildlife overpass in Colorado brings 91% reduction in animal collisions
Prior to the overpass, vehicles were hitting one deer per day on Colorado’s Interstate 25.
California lawmakers approve just 5% of much-needed LA28 transportation funding
State legislators appear just as unwilling as Trump to pay for Olympics-related transportation projects.
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 Thousand Oaks
City of Wisconsin Rapids
Harvard University Graduate School of Design
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello