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.
California plans to bury El Niño’s downpour
If the state plays its cards right, it may be able to store a billion acre-feet of El Niño’s water in aquifers.
Desperate measures: Advocates weigh draining Lake Powell to fill Colorado River
Draining the reservoir could reduce evaporation losses by a couple hundred thousand acre-feet.
Chicago voters approve permanent festival grounds, penalty for vacant property owners
Currently, major summer and fall festivals take over public parks for weeks at a time, drawing criticism from nearby residents
NYC votes to cut outdoor dining red tape, speed up permitting
New York City also voted to allow the Department of Transportation to begin work on urgent projects before notifying elected officials.
California appears to reject Prop. 45
The proposition would have expanded the projects that qualify for a streamlined environmental review, effectively paring down the California Environmental Quality Act.
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 Rosemead
Rutgers University, Edward J. Bloustein School of Planning and Public Policy
One Hundred Miles
Hunter College, City University of New York (CUNY)
The Architects Foundation
University of Cincinnati Online
City of Cambridge
Montrose County
The Pocatello Development Authority