Despite inventory issues, the real estate industry in Illinois remains robust – Center Square

Two of the hottest housing markets are downstate where sales and prices were up. The median price for a home increased in May year-over-year by 27.3% in the Kankakee area, and 23.4% in the Carbondale/Marion area.
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debtsor
1 year ago

When dumps like Kankakee and Carbondale are up double digits it likely means that outside investors have been priced out of larger market. Downstate markets are scraping the bottom of the barrel as rentiers and vultures looks for untapped and underinflated real estate markets. We are witnessing, in real time, inflation rear its ugly head into every corner of the economy, including the single family home market in small towns where the only way to collect rent is to show up at the tenants door on the first of the month and demand it in cash.

Last edited 1 year ago by debtsor

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