African-Americans and Latinos lost huge amounts of wealth in the crisis. A Washington Post editorial writer asserts that all this loss of wealth is a positive, even though it affected low- and moderate-income and new buyers disproportionately.
On Aug. 3, The Washington Post published a remarkable opinion piece by Charles Lane, one of the paper's editorial writers, which fits squarely into the Post’s narrative about the perniciousness of all things Fannie Mae and Freddie Mac. Lane drops this gem, “the ongoing decline of the homeownership rate is actually good news.”
Actually, it’s not.
Let’s start with how we lost ground on homeownership, which has dropped to about 63 percent of households from a peak of near 70 percent. There are two ways we did this: one, by turning owners back into renters through foreclosures, and two, by having fewer new entrants to the market. While it’s impossible and fruitless to argue what the homeownership rate should be, we know that the loss of wealth is never a good development.
Foreclosures, short sales, and other reactions to the crisis threatened and then wiped out many American dreams. It’s also well known that, as we remain in the shadow of the housing crisis, first-time homebuyers are delaying or not buying at all.
While Lane may think this is good news, it’s hard to mesh this with other data points from the crisis.
FULL STORY: Say What, Washington Post? Declining Homeownership Rates Aren’t a Good Thing
Making Homeownership Work Better
Programs that help households of color buy homes haven't made much of a dent in the racial wealth gap. But some strategies could generate better outcomes for buyers.
Increased Homeownership Won’t Close the Racial Wealth Gap
Despite the hopes pinned on it, homeownership is still too affected by institutionalized racism at every turn to be an equalizer.
Family Money Boosts Chances of Homeownership for Californians
Buying a home in California is increasingly a matter of generational wealth.
Trump Administration Could Effectively End Housing Voucher Program
Federal officials are eyeing major cuts to the Section 8 program that helps millions of low-income households pay rent.
Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.
Canada vs. Kamala: Whose Liberal Housing Platform Comes Out on Top?
As Canada votes for a new Prime Minister, what can America learn from the leading liberal candidate of its neighbor to the north?
Washington State’s Parking Reform Law Could Unlock ‘Countless’ Acres for New Housing
A law that limits how much parking cities can require for residential amd commercial developments could lead to a construction boom.
Wildlife Rebounds After the Eaton Fire
Following the devastation of the Eaton Fire, the return of wildlife and the regrowth of native plants are offering powerful signs of resilience and renewal.
LA to Replace Inglewood Light Rail Project With Bus Shuttles
LA Metro says the change is in response to community engagement and that the new design will be ready before the 2028 Olympic Games.
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.
Central Transportation Planning Staff/Boston Region MPO
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Regional Transportation Commission of Southern Nevada
Toledo-Lucas County Plan Commissions