The narrative about the full recovery of the real estate market from the housing market crash of 2008 is only true in some parts of the country. In fact, an increasing number of homeowners owe more than their homes are worth.
"Despite an overall housing recovery, it’s suddenly becoming more common in several of the nation’s largest cities for homeowners to owe more on their home than it’s worth," according to an article by Darla Cameron and Ted Mellnik.
The article cites a new report from Zillow, which found that the national negative equity rate stalled in the fourth quarter of 2014 for the first time in 2.5 years. Over that time period, "the rate worsened in 21 of the nation’s top 50 housing markets, including Philadelphia, Boston and Houston," report Cameron and Mellnik.
Over a quarter of homeowners are underwater in the metropolitan areas of Virginia Beach, Jacksonville, Las Vegas, Atlanta, Chicago and Memphis. The article includes charts to visualize the ongoing evolution of the problem.
FULL STORY: The cities where houses are suddenly going underwater
The Strong, Prosperous and Resilient Communities Challenge Awards $90 Million
Six regions have been selected for funding as part of the Strong, Prosperous and Resilient Communities Challenge, or SPARCC. A local news outlet reports on the potential benefits of the program for Atlanta.
Report: Transit Oriented Development Leads the Market in Major Metros
A report released last week by Cushman & Wakefield has won a lot of attention from media outlets covering large-scale development market trends. Among the report's findings: growing cities need to better support transit-oriented development.
The Crucial Role of Suburban Voters in the Midterms
Suburban voters were instrumental in preventing a 'red wave' on Election Day and on December 6 in the Georgia U.S. Senate runoff election, enabling the Democrats to win a 51st Senate seat.
Florida Considers Legalizing ADUs
Current state law allows — but doesn’t require — cities to permit accessory dwelling units in single-family residential neighborhoods.
HUD Announces Plan to Build Housing on Public Lands
The agency will identify federally owned parcels appropriate for housing development and streamline the regulatory process to lease or transfer land to housing authorities and nonprofit developers.
Conservatives’ Decongestion Pricing Flip-Flop
When it comes to solving traffic problems, the current federal administration is on track for failure, waste, and hypocrisy.
Can Geothermal Energy Fuel Hawaiʻi’s Future?
Gavin Murphy, a New Zealand-based consultant with experience in indigenous-led geothermal projects, argues that Hawaiʻi is poised to achieve energy independence and economic growth by respectfully developing its untapped geothermal resources.
Climate Gardening: Cultivating Resilient Landscapes in Los Angeles
TreePeople’s 4th Annual Urban Soil Symposium explored how climate gardening, soil health, and collaborative land management strategies can enhance urban resilience in the face of climate change.
Electric Surge: EV Chargers Outnumber Gas Nozzles in California
California now has 48% more electric vehicle chargers than gasoline nozzles, reflecting its rapid shift toward clean transportation and aggressive zero-emission goals despite federal pushback.
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.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
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Institute for Housing and Urban Development Studies (IHS)
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City of Piedmont, CA
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland