The decline in housing prices during the Great Depression of the thirties peaked at a average loss of 25.9%. In November of last year, the current decline ticked past that landmark to hit 26%.
While signs are still looking up for the economic climate as a whole, housing prices failed to stabilize or grow at the end of 2010, according to Zillow.
The San Jose Mercury News reports that November "marked the 53rd consecutive month of home value declines, with the Zillow Home Value Index (ZHVI) falling 0.8% from October to November, and falling 5.1% year-over-year."
But Jonathan Berr at the 24/7 Wall Street blog says Zillow's data smells fishy:
"For one thing, the Zillow Home Value Index describes itself as 'the Mid-point of Zestimate valuations for the US.' The Zestimate, for the uninitiated, is 'Zillow's estimated market value, computed using a proprietary formula. It is not an appraisal. It is a starting point in determining a home's value.'"
FULL STORY: Home value declines surpass those of Great Depression
Home Prices Expected to Hit a Coronavirus Speed Bump in 2020
A report by Zillow predicts a sudden reversal for the housing market, which has been soaring in many places around the country ever since the worst of the financial crisis and housing market crash of the Great Recession.
Zillow: Suburbs Becoming More Like Cities
According to the real estate website, urban home values are growing faster than those in the suburbs, bucking a longtime trend. This isn't exactly surprising, but it has serious social justice implications.
The ‘Lock-In Effect’ Keeping Home Prices High
Housing prices dropped slightly last year, but first-time and middle-income buyers found little price relief due to the “lock-in effect” of the historically low interest rates in effect for more than a decade prior to 2022.
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
National Parks Layoffs Will Cause Communities to Lose Billions
Thousands of essential park workers were laid off this week, just before the busy spring break season.
Retro-silient?: America’s First “Eco-burb,” The Woodlands Turns 50
A master-planned community north of Houston offers lessons on green infrastructure and resilient design, but falls short of its founder’s lofty affordability and walkability goals.
Test News Post 1
This is a summary
Analysis: Cybertruck Fatality Rate Far Exceeds That of Ford Pinto
The Tesla Cybertruck was recalled seven times last year.
Test News Headline 46
Test for the image on the front page.
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.
EMC Planning Group, Inc.
Planetizen
Planetizen
Mpact (formerly Rail~Volution)
Great Falls Development Authority, Inc.
HUDs Office of Policy Development and Research
NYU Wagner Graduate School of Public Service