Chicago hasn’t broken home price records partly because the metro region’s growth slowed to a crawl over the past decade, meaning there’s less demand for housing than there would be in rapidly growing cities, said Bill Adams, senior economist for PNC.
What’s not to like about Chicago? Crime, bad weather, corrupt politicians, high taxes, 200 different spoken languages, progressive politics? Why wouldn’t people want to live here?
Home prices are soaring because of the recent frenzy of everyone trying to outbid everyone else. Lumber prices added up to $36K to purchase price for a few months but have come down by 75% or so. Less than $4.00 for a 2×4 down from $12.50. So people paid more than $36K during that time and now have buyers remorse. https://www.realtor.com/news/trends/pandemic-homebuying-remorse/ Even here in Rockford it is taking longer to sell a home and prices are being reduced. Those who bought a home the last few months will get a sticker shock when property taxes are due. A house at… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
What’s not to like about Chicago? Crime, bad weather, corrupt politicians, high taxes, 200 different spoken languages, progressive politics? Why wouldn’t people want to live here?
Home prices are soaring because of the recent frenzy of everyone trying to outbid everyone else. Lumber prices added up to $36K to purchase price for a few months but have come down by 75% or so. Less than $4.00 for a 2×4 down from $12.50. So people paid more than $36K during that time and now have buyers remorse. https://www.realtor.com/news/trends/pandemic-homebuying-remorse/ Even here in Rockford it is taking longer to sell a home and prices are being reduced. Those who bought a home the last few months will get a sticker shock when property taxes are due. A house at… Read more »