Huge drop in Illinois home sales due to COVID-19 might be great for sellers, but not for buyers: ‘There’s a feeding frenzy.’ – Chicago Tribune

Both the steady prices and quick turnarounds are byproducts of the drop in inventory, experts said, which was dramatically impacted by the stay-at-home order and its now-partially-lifted ban on in-person open houses and restrictions on showings.
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debtsor
5 years ago

These idiots at the trib have no memory and no knowledge of anything. The great recession started in 2007 and home prices didn’t start falling until roughly 2008, and dropped drastically until 2010, and took a slow decline until 2012 or 2013. Things really picked up that spring in 2013 in most areas, so there were 5-6 years of falling prices. We are only in the third month of this recession. We’ve got a long way before the bottom falls out.

MikeH
5 years ago
Reply to  debtsor

Nobody remembers anything anymore. It’s terrifying, really. Just 11 years ago, we had a flu outbreak worse than this one, but nobody remembers. Just like nobody who is old enough seems to remember how the current US/china trainwreck started in 1996 with Clinton selling most favored nation trading status for campaign bucks.

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