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Economy
4:30 am
Thu March 21, 2013

Home Values Rising, But Homeowners Still A Long Way From Flush

Credit (via Flickr/Images_Of_Money)
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So, another week, and yet more news the U.S. housing market is slowly returning to normal.

Numbers released on Tuesday by the Commerce Department show that builders broke ground on homes last month at a seasonally adjusted annual rate of 917,000. That's up from 910,000 in January. And it's the second-fastest pace since June 2008, behind December's rate of 982,000.

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Urban Development
4:30 pm
Mon July 16, 2012

A Rust Belt dilemma: demolition or redevelopment

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Credit Adam Allington/St. Louis Public Radio
Taken in the 3rd Ward, north of the old Pruitt-Igoe housing project in St. Louis.
Credit Adam Allington/St. Louis Public Radio
Taken in the 3rd Ward, north of the old Pruitt-Igoe housing project in St. Louis.
Credit Adam Allington/St. Louis Public Radio
Taken in the 3rd Ward, north of the old Pruitt-Igoe housing project in St. Louis.
Credit Adam Allington/St. Louis Public Radio
Demolition Specialist Roland Comfort photographing vacant buildings.
Credit Adam Allington/St. Louis Public Radio
Credit Adam Allington/St. Louis Public Radio
A vacant home in the 4th Ward neighborhood known as The Ville.
Credit Adam Allington/St. Louis Public Radio
Taken in the Walnut Park neighborhood of St. Louis.
Credit via Google Earth
A Google Earth view of a section of north St. Louis.
Credit via Google Earth
Another Google Earth view of a section of north St. Louis.
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The City of St. Louis has some of the highest  home vacancy rates in the country, and last month the mayor of Detroit made news when he laid out ambitious plans to demolish as many as 10,000 vacant buildings by the end of his term.

With costs for maintenance and upkeep running in the tens of millions, many Rust Belt cities often find it expedient to simply demolish empty buildings in favor of vacant lots and the hope of future development.

But taking down problem properties creates a whole new set of issues which are often overlooked.

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