Archinect - News

The next housing crisis can be found (Again) in North Las Vegas

2018-09-22T17:47:00-04:00

The damage from the housing crisis — a toxic combination of frenzied buying, rampant construction, predatory lending and investment excess — was extensive. Of the 23,000 single-family homes in the 89031 ZIP code, more than 7,500 have had at least one foreclosure since 2006, according to Attom Data Solutions.

A team including; Matthew Goldstein, Robert Gebeloff, Ross Mantle and Matt Ruby released a deep dive into the community of North Las Vegas. The global financial crisis of 2008 impacted it greatly and though the local housing market has strengthened and it is today one of the fastest-growing cities in the country, affordability is a growing concern.

Eight years after the crash, Detroit still contending with foreclosures

2016-08-02T18:14:00-04:00

Nearly 40 percent of Detroit residents live below the poverty line. In many cities, poor people rent — but the home ownership rate here is high. After the 2008 housing crash, it took the city of Detroit five years to start reappraising homes — and poor homeowners like Hicks, who lives on disability, struggled to pay their taxes. Over the past decade, there have been more than 100,000 tax foreclosures in Detroit.

For more news from the Motor City, check out these links:

A City Invokes Seizure Laws to Save Homes

2013-07-30T10:44:00-04:00

“We’re not willing to back down on this.They can put forward as much pressure as they would like but I’m very committed to this program and I’m very committed to the well-being of our neighborhoods.” - Gayle McLaughlin, Richmond’s mayor

Peter DaSilva for The New York Times

The power of eminent domain has traditionally worked against homeowners, who can be forced to sell their property to make way for a new highway or shopping mall. But now the working-class city of Richmond, Calif., hopes to use the same legal tool to help people stay right where they are.

Scarcely touched by the nation’s housing recovery and tired of waiting for federal help, Richmond is about to become the first city in the nation to try eminent domain as a way to stop foreclosures.

Reality Check: Developers React to MoMA’s Show, “Foreclosed: Rehousing the American Dream”

2012-03-27T00:44:00-04:00

Though the panelists agreed that the foreclosure crisis will lead to major changes in suburban development, they all thought new patterns are less likely to be brought about by a revised American dream than by economic and demographic factors. And all said it would be very difficult to change zoning laws to permit denser new development patterns, especially in existing “inner-ring” suburbs.

On Archinect: The CRIT: Thoughts on MoMA's Foreclosed: Rehousing the American Dream

Justin Davidson on MoMA's Architectural Response to the Financial Crisis

2012-02-13T14:14:00-05:00

Who needs a fancy designer when builders all over the country know how to construct a peaked-roof single-family house? The Museum of Modern Art’s small but magnificently ambitious new show “Foreclosed: Rehousing the American Dream” makes an overwhelming case that the two camps need each other now. Today’s suburb has little to do with the outwardly tidy, seething, monochrome world of Updike or Revolutionary Road.

Bank of America Plaza, the tallest building in metro Atlanta, to be auctioned today

2012-02-07T19:59:34-05:00

The foreclosure of Bank of America Plaza comes as delinquency rates for commercial mortgage backed securities, or CMBS, a type of loan for commercial properties, reached an all-time high in metro Atlanta in December, according to Trepp, a real estate research firm.

There Goes the Neighborhood

2011-12-19T01:51:36-05:00

Across America, recession-fueled foreclosures and plummeting home values have left countless properties abandoned and vulnerable to looting. As Scott Pelley reports, the problem has gotten so bad in Cleveland, Ohio, that county officials have demolished more than 1,000 homes this year - and plan to demolish 20,000 more - rather than let the blight spread and render nearby homes worthless.

Watch the entire segment from CBS 60 Minutes here.

Homework and Jacuzzis as Dorms Move to McMansions in California

2011-11-13T19:04:15-05:00

Here in Merced, a city in the heart of the San Joaquin Valley and one of the country’s hardest hit by home foreclosures, the downturn in the real estate market has presented an unusual housing opportunity for thousands of college students. Facing a shortage of dorm space, they are moving into hundreds of luxurious homes in overbuilt planned communities.