-- Connecting the dots between our economy, government and business --
Chicago-area home prices are defying the weakness in the U.S. housing market, rising at about twice the rate of inflation and four times the nationwide growth in home prices.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
Great cover to justify jacking up your property tax bill.
Headline should be – Chicago-area home prices, fastest-rising in the U.S., are up higher than inflation but property taxes are up even higher!!
More great news for the Chicago area real estate market. I remember when this ignorant clown poster on this site told me real estate prices would plummet around 30% back in 2022. lol
If EvErYoNe Is LeAViNg who are all these people that are ready to buy your home for more money than ever before?
Supply crunch.
If we actually had fewer people living in Illinois then it wouldn’t matter. We would have more homes than needed as demand would decrease. Fewer people with the same or mores houses should cause prices to decline. Basic supply and demand. That’s not happening because population loss has been greatly exaggerated.
Don’t you think that IRS data — the number of people filing returns — is more accurate than trying to infer population changes from home prices? Home prices are falling in most of the boom states. Are they losing people?
Yes, housing prices are falling in boom states. I have clients who purchased out west and south after selling in Illinois. Many of those newly purchased properties are underwater or worth far less than they purchased them for. 2022 was probably the absolute WORST year to buy property since the Great Recession. Back then Buying in 2006/7 was the worst time, and today it’s 2022.
Illegals don’t register as residents.
You clearly don’t work in the real estate market. I do! We’re starving over here! The market practically seized up in October. It seems like hardly anything is selling. The people in my industry are freaked out! According to Redfin, which to me is more reflective of the market than the cherry picked numbers from IAR, prices have fallen 1.4% year over year, which is a pretty big deal. What’s even bigger is that the number of sales is down nearly 12% YOY. Falling prices and falling sales is a repeat of exactly what happened when I survived the Financial… Read more »
And? San Francisco has the highest real estate prices in the nation but that doesn’t mak it a desirable place to live if you need to go to Walgreens or any of the other retailers that have fled homeless people laying in their own filth everywhere and people walking into stores with large trash bags, filing them up and walking out the door- unless the merch equals more than 999 dollars.
Just FYI, this link currently goes to an article on Russia/NATO.