What Recession?
We heard it was over. Maybe not?
Home sales in the city of Chicago were down 7.2 percent in August, with the median home price plunging 22.9 percent from a year ago, a realtors' group reported today.
The median home price in the city stood at $229,476 versus the year ago's $297,500, according to the Illinois Association of Realtors.
The news was brighter in the six-county metropolitan Chicago area, where home sales went up in August for the second straight month - up 1.3 percent from a year ago. But median home prices in the metro area continued to sag, down 18.7 percent from a year ago, to $205,000, the association reported.
Sure doesn't feel like it's over.
Labels: we got nothing
posted by SCC at 12:01 AM
20 Comments:
get rid of residency!!!!!!
Obaba will refund us for our Losses.
Just watch the prices drop once the Stuttering Prick brings home da Lympics!
Knowing how Olympic cities are nearly bankrupt every 4 years with the local citizenry on the hook for decades to pay off paralyzing debts, ex-Chicagoans will become the largest group of immigrants around the country, fleeing even HIGHER taxes than we pay now as the MOST HIGHLY TAXED CITY in the US.
Bought my house 3 years ago for 230K, and remodeled my kitchen. Refinanced this summer and the house was appraised WITH the kitchen update and the house was only appraised at 230K. Could be worse and I could have lose value, but fortunately it stayed the same. And that was with a complete gut job on the kitchen.
I just love watching all the gangbangers move in 016 in these 120000k tear downs. Where do we have to live now???
That's OK my property taxes went way up. Cook County, I've got you covered with my 25% increase in taxes.
It's a pleasure to give my hard earned money over to such a fine upstanding group. Shall I just make the check out to Todd Stroger, or one of his relatives?
Oh well, at least I live in the 016th District and I get a ton of Police and other City services.
And yet that thief in the County Assesors Office raises your tax rate 10%. He dosen't care though, he's running for another office next election!
Yet my tax assessment went up! What bull shit. My house lost almost 40% it's value. I lost my equity. I can't refinace to get a great rate, yet my assessment rose? While Obama uses my tax money to pay off mortgages for people who purchased homes they couldn't afford and to bail out failing business and banks. I work, pay my taxes, pay my mortgage and get screwed. I just want a fair assessment and a better rate like all the other people who caused this economic problem are getting! Vote out these dummycrats who fail us repeatedly! HONK IF OBAMA PAID OFF YOUR MORTGAGE
Home sales in the city of Chicago were down 7.2 percent in August, with the median home price plunging 22.9 percent from a year ago, a realtors' group reported today.
The median home price in the city stood at $229,476 versus the year ago's $297,500, according to the Illinois Association of Realtors.
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The reality is probably worse than the report makes it seem. This only covers houses that actually sold. A lot of houses would be sold if the owners were not upside down on them, and a lot are close to being foreclosed. When that starts to happen, the average price will start dropping like a rock.
I've never been able to buy a house in this city, and now I just don't care.
I'm going to rent until I can get the fuck out of this God forsaken city and buy in a suburb that gives a shit about its residents.
Just rip off the contractor and you can live in Sauganash!!
I've never been able to buy a house in this city, and now I just don't care.
I'm going to rent until I can get the fuck out of this God forsaken city and buy in a suburb that gives a shit about its residents.
9/25/2009 03:31:00 PM
Have you been to the suburbs lately??? They are turning into shitholes as well....section 8 is everywhere. Unless you plan on moving to Winnetka, Wilmette, Glenview and maybe Park Ridge, the burbs just aren't what they used to be.
Garfield Ridge turning into Garfield Park quick. Section 8 sprouting up everywhere. Not good for us who live here.
Home prices will continue to decline. For reasons I can not enumerate here but several websites can; www.patrick.net www.housingdoom.com www.doctorhousingbubble.com
Check out those websites. Also read a book by Robert Prechter and Martin D. Weiss Ultimate Depression Survival Guide.
Unlike Suzy Orman and other "oh just invest for the long term it'll be ok". The above two authors provide good relevant facts to back up why we are headed towards a financial depression and provide ways you can protect your wealth. A must read for any person who cares about their personal finances.
When I lived in Clearing several years ago, there was an old guy (retired city worker) who's house looked like complete shit and hadn't done any repairs or updates in the 40 years he lived there.
He couldn't sell it. So since it was paid off he was instructed by a local realtor to get a HELOC loan at 80% LTV and walk away. The old guy did that. He got way more cash than the shitty place was worth. Now it's in foreclosure. And he's living comfortably in the suburbs. The old guy is like 80, so he doesn't care about his credit rating, he doesn't need it he's 80!
Now the value of all the other houses on the block take a hit.
It's unethical and probably mortgage fraud. But the neighborhood realtor told him to do it and now has the forclosure listing, I'm told through the grapevine.
Abolish the residency requirement!
Anyone have any opinions on the Kenny contruction condos?
How many out there spend way too much for their home? How many out there paying $500 grand for a house worth about $200 grand ten years ago and is back at that value again? The housing market is just like the stock market.
>>>Anonymous said...
get rid of residency!!!!!!
9/25/2009 12:03:00 AM<<<
Look Fool! If you haven't figured out the way to lead a double life and work as a Chicago Cop and actually live outside the city then quit or shut up. Decide what is important in your life.
If residency gets lifted our home values will plummet, and Shortshanks will treat us even worse and the good citizens will will support us even less.
I live in a good neighborhood because I help make it a good neighborhood with the help of my neighbors. And it is not a lilly white paradise.
What I fear is that the 'Limpics will drive the values down and the taxes UP! That the Obama Socialist agenda will "redistribute" my life's earnings to those who never worked a day in their lives.
any one looking for a house in mt greenwood i want to get the fuck out i retired a few years ago cant sell fuck the mayor
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