The price of oil has been on a steady decline since 2014, and the housing markets of oil industry towns are on their own, similar slide.
"Home sellers are slashing prices and offering incentives to keep buyers from walking away from contracts as an 18-month oil slump buffets [Houston's] once-booming housing market," report Laura Kusisto and Kris Hudson.
The article provides data from the Commerce Department and Houston-area brokers as evidence for the decline of the real estate market: "Home-construction permits in the area plunged 26% from a year earlier in the third quarter, while December sales of existing single-family houses fell nearly 10% from the same month of 2014..."
The article connects the sluggish Houston real estate market with the ongoing oil industry slump, finding evidence of similar trends in other regions in Texas as well as Colorado and North Dakota. The article includes interviews with local residents about how they are coping with the economic downturn—both in terms of housing and employment.
FULL STORY: Oil Slump Hits Houston Home Market
Price Cuts Spread to More of the U.S. Housing Market
The insanity of the housing market during the pandemic seems to have peaked in an increasing number of U.S. cities, according to recent data.
The Consequences of 'Runaway' Housing Prices
There's been no shortage of discussion and debate about what's causing the price of homes in the United States to skyrocket at record rates, but less discussion of the consequences for housing market trends on the broader economy.
U.S. Housing Prices Continue Record-Breaking Pace
July marked four straight months of record-breaking increases for housing prices nationwide, according to the latest housing market data.
The City of Broken Sidewalks
Can Los Angeles fix 4,000 miles of broken sidewalks before the city hosts the 2028 Olympic Games?
Shifts in Shopping: Transforming Malls Into Parks
Maybe zombie malls still have a second life — one with a little greenery.
Major US Cities Still Suffering Downtown Decline
Research shows that the “donut effect” hollowing out central business districts since the pandemic continues to cause economic decline in the 12 largest American cities.
Why Traffic Never Gets Better
Despite abundant research showing that roadway expansions provide limited congestion relief and increase long-term traffic problems, they still occur due to wishful thinking: advocates claim that “this” project is different.
San Francisco Tops ‘Urban Mobility Readiness’ List
An annual analysis of global cities assesses public transit, technology, and sustainability.
Bike-Mounted Sensor Could Improve Safety for Cyclists
A new camera technology can detect when vehicles pass too close to people on bikes.
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.
City of Prescott
Alamo Area Metropolitan Planning Organization
Village of Glen Ellyn
HUDs Office of Policy Development and Research
CORP - COnsulting Research Projects
City of Cambridge, Maryland
Newport County Development Council: Connect Greater Newport
Rockdale County Board of Commissioners