Although my last post provided 3 different sets of data that suggest that Chicago housing prices will continue to decline the local employment numbers actually paint the opposite picture. A while back I wrote about how employment in Chicago is a primary driver of housing demand. Surprisingly, a few months later the numbers continue to… Read more
It seems like everyone in the Chicago area is trying to time the real estate market these days. Sellers are holding out for higher prices, convinced that the market is going to turn around any day now and they are going to make 50% on the home they bought 5 years ago. Buyers, on the… Read more
While the housing market is hurting in most parts of Chicago, Lakeview mysteriously remains somewhat immune. Not too long ago Crain’s ran an article which showed data calculated by Fiserv Lending Solutions which calculated the Case-Shiller index down to the zip code level for 76 different zip codes in the Chicago area where they had… Read more
About one month ago I posted a rather lengthy discussion of the truth about Chicago area housing prices. The Case-Shiller price index that I referenced in that article has just been updated through March so here is a quick update on what it shows for Chicago. First, let me show you the trend going back… Read more
Anyone who has looked around Chicago during the last year has probably remarked to themselves that there sure are a lot of cranes in the air building ever more expensive condominiums. The Chicago Spire alone is adding 1194 units to the supply and constructing a building that tall can not be cheap. I for one… Read more
