The foreclosure crisis and the Great Recession have paved the way for a steady decline in homeownership. Many cities will never be the same.
Patrick Clark reports: "Fifty-two of the 100 largest U.S. cities were majority-renter in 2015, according to U.S. Census Bureau data compiled for Bloomberg by real estate brokerage Redfin."
The data show the culmination of a decade of declining homeownership rates," as the foreclosure crisis turned millions of owners into renters and tight housing markets made it hard for renters to buy homes."
According to Clark, 20 of the cities now populated by a renter majority switched from a homeowner majority since 2009.
Homeownership did pick up in the second half of 2016, according to Census data, but Clark cites a 2015 report from the Urban Institute that predicts rentership will continue to rise until 2030 [pdf].
Clark concludes the article by noting the unique challenges that will face cities with majority renter populations.
FULL STORY: Renters Now Rule Half of U.S. Cities
When Wall Street Controls the Housing Market
A debate about the effect of the increasing footprint of large, institutional investors in the housing market is further fragmenting the politics of development in the United States.
How California Plans to Slow the Corporate Takeover of the Residential Market
The state of California is trying to prevent a repeat of one of the most significant consequences of the Great Recession: large Wall Street interests buying for-sale housing in bulk for conversion to apartments.
Landlords Offering New Concessions to Renters
In the midst of a historic eviction crisis, renters with the privilege of affording rent suddenly have the leverage for concessions from landlords, like free parking and other perks .
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