ArchWeek Residential 2010.0622

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ArchWeek Residential 2010.0622

Postby Kevin » Tue Jun 22, 2010 7:05 pm

Dear Designers, Builders, and Dwellers,

ArchWeek Residential brings you housing news and analysis weekly from the editors of ArchitectureWeek.

For most of us in the residential design and construction industry - not to mention homeowners in general - prudence, as well as morbid curiosity, seems to dictate attention to news of the languishing market.

General news headlines and even much U.S. business media news seem to chase the noise in the system, calling things up or down almost on a daily basis, depending on the latest report from HUD, Commerce, the Realtors, etc.

HUD itself - the U.S. Department of Housing and Urban Development - announced on Monday a new information product designed no doubt in part to influence those headlines, but more importantly, to inform them with a greater depth of regular housing data charting, graphing, and analysis.

In the top-level summary of the new "Monthly Housing Scorecard," the high points look like this:

- After 30 straight months of decline and an expectation of continued nearly 14 percent decline, home prices leveled off in the past year and expectations have adjusted upward.

- Mortgages are more affordable: due to historically low interest rates, more than 6 million homeowners have refinanced, saving an estimated $150 per month on average and more than $11 billion in total. And more than 2.5 million families have purchased a home using the First-Time Homebuyer Tax Credit.

- Servicers report that the number of homeowners receiving restructured mortgages since April 2009 has increased to 2.8 million. Additionally, nearly half of homeowners unable to enter a HAMP permanent modification enter an alternative modification with their servicer, and fewer than 10 percent of cancelled trials move to foreclosure sale.

- However, the foreclosure prevention initiatives are not intended to help all borrowers and the market will continue to adjust for some time. The supply of homes on and off market remains near all-time highs. It will take time to work though this large inventory.

Obama Administration Introduces Monthly Housing Scorecard
HUD Press Release - 2010.0621

To get a deeper look at the housing situation, take a scroll through the full housing scorecard, available at this URL in PDF format:

It's well worth it, for those who want or need to see behind the headlines. Twelve different well-made graphs illustrate recent and longer-term trends in new and existing home sales, in home sales inventories, and in mortgages, refinancing, and restructuring.

With such good data in one place, I'd like to see it rounded off with additional graphing around single and multifamily construction, and overall housing inventories and vacancy rates.

It looks to us like a useful resource, off to a strong start. What do you think? Is this depth of data interesting to you?

Click Reply to comment here.

Residential Design and Building News
Sales of Existing Homes in U.S. Probably Climbed on Tax Credit - Bloomberg BusinessWeek, 2010.0622

Structural Engineers Checking Gas Blast House - BBC, 2010.0622 ... 372726.stm

Housing on the Rocks, Make It a Double? - Wall Street Journal, 2010.0622 ... 44592.html

Tysons Corner Residents Either Love Convenience or Hate the Traffic - Washington Post, 2010.0622 ... 04669.html

House-Senate Negotiators to Weigh Consumer Agency, Mortgage-Risk Retention - Bloomberg, 2010.0622

Latest RIBA Future Trends Survey Predicts Possible 'Double-Dip' Recession - RIBA Press Release, 2010.0621

Fannie and Freddie: Homeownership at Whose Expense? - Christian Science Monitor, 2010.0621

Home Loans Get Easier for Spaniards - Wall Street Journal, 2010.0621 ... 57870.html

East Jerusalem Building Plan Advances - New York Times, 2010.0621 ... tml?src=me

Fannie, Freddie Still Central to US Housing Market - Epoch Times, 2010.0621

Program for Struggling Homeowners Finds Itself Struggling - Chicago Tribune, 2010.0621 ... 7114.story

Suburbia Revised: Developers Try Turning Malls into Main Streets - Chicago Tribune, 2010.0621

Self Employed? 5 Steps to Scoring a Mortgage - San Francisco Chronicle, 2010.0620 ... ia3566.DTL

Artist Ishimoto Gets Do-over on Iconic Photos - Houstan Chronicle, 2010.0620

Race to Build Best Solar House Opens in Madrid - AFP, 2010.0619 ... yuaD_OuBzQ

When Its Loudoun Home Burned, an Inspired Family Launched a Grand Barn Raising - Washington Post, 2010.0619 ... 00212.html

Malibu House Built from a Boeing 747 Nears Takeoff - USA Today, 2010.0618

Minorities Hurt More by Foreclosure Crisis, Study Says - Miami Herald, 2010.0618 ... osure.html

Cooper-Hewitt Awards Go to Designers of High Line, Birding Center and Designer Shops - Los Angeles Times, 2010.0617

'Catios' Bring Cats Outdoors - New York Times, 2010.0617

Home Construction Sinks, Building Permits Down - Associated Press, 2010.0617 ... wD9GCCLS00

Defying the Traditions for a Japanese Home - New York Times, 2010.0617 ... retok.html

Home Construction Fails to Lift Recovery - Associated Press, 2010.0617 ... wD9GCHBIG0

U.S. Home Building Craters after Tax Break Expires - Market Watch, 2010.0616

In California, a Midcentury House in the Redwoods - New York Times, 2010.0616 ... ation.html

Planning to Repaint? Read This First - New York Times, 2010.0616

Open-Web Steel Joists - ArchitectureWeek, 2010.0616 ... g_1-1.html
The Eames House in Pacific Palisades, California, designed by
Charles Eames, was built with a selection of manufactured steel
structural elements, including open-web steel joists, which
provide the primary roof structure.

Home Tax Credit Extension Clears Senate - Houston Chronicle, 2010.0616 ... 57420.html

In Israel, from Storage Unit to Loft - New York Times, 2010.0616 ... srael.html

On Architecture: An Appreciation of Robert Treat Paine House in Waltham - Boston Globe, 2010.0615 ... tt_on.html

People and Places, by Nancy Novitski
Holder Mathias Architects in Bratislava, Slovakia - HGA in
Minneapolis, Minnesota - KMD in Seattle, Washington - Goshow
Architects in New York, New York - Moshe Safdie in Singapore,
Singapore - Kasian in Edmonton, Canada - WXY architecture +
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Angeles, California...

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