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.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Congressman Proposes Bill to Rename DC Metro “Trump Train”
The Make Autorail Great Again Act would withhold federal funding to the system until the Washington Metropolitan Area Transit Authority (WMATA), rebrands as the Washington Metropolitan Authority for Greater Access (WMAGA).
The Simple Legislative Tool Transforming Vacant Downtowns
In California, Michigan and Georgia, an easy win is bringing dollars — and delight — back to city centers.
The States Losing Rural Delivery Rooms at an Alarming Pace
In some states, as few as 9% of rural hospitals still deliver babies. As a result, rising pre-term births, no adequate pre-term care and harrowing close calls are a growing reality.
The Small South Asian Republic Going all in on EVs
Thanks to one simple policy change less than five years ago, 65% of new cars in this Himalayan country are now electric.
DC Backpedals on Bike Lane Protection, Swaps Barriers for Paint
Citing aesthetic concerns, the city is removing the concrete barriers and flexposts that once separated Arizona Avenue cyclists from motor vehicles.
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.
Smith Gee Studio
City of Charlotte
City of Camden Redevelopment Agency
City of Astoria
Transportation Research & Education Center (TREC) at Portland State University
US High Speed Rail Association
City of Camden Redevelopment Agency
Municipality of Princeton (NJ)