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.
Read the 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.
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.
Judges permit Denver to divert 77,000 acre feet from the Colorado River for reservoir expansion
Overuse and climate change have caused the Colorado River’s water levels to plummet.
NYC DOT wants faster, more permanent street upgrades
The city is examining ways to build more concrete infrastructure without getting entangled in 'decades-long' projects.
'Something we’ve never seen before:' rising utility rates could strain city finances nationwide
Data centers, climate change and other factors have caused utility rates in the United States to increase by 38% since 2020.
Trump to overrule local leaders, lease millions of acres of America’s Pacific Island territories’ seafloors to mining companies
International law says that the Indigenous people of America’s territories have a right to prior and informed consent regarding projects that impact their countries.
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.
Harvard University Graduate School of Design
KFH Group Inc.
Greater Baltimore Committee
The Architects Foundation
University of Cincinnati Online
The Pocatello Development Authority
The Urban Renewal Agency of the City of Pocatello