blockitecture leaderboard

Home Prices May Be Rising In Cities But Many Suburbs Are Still Struggling

In desirable cities across America, home prices are well on their way back to pre-bust levels. But in areas like Chicago's southern suburbs, prices are down more than 40 percent from recent highs, and approaching were they were twenty years ago.

"Across a swath of suburban Chicago, many longtime homeowners' biggest asset has become dead money," reports Abraham Tekippe. "While an index of Chicago-area single-family home prices is continuing to climb since bottoming out last year, data from research firm CoreLogic Case-Shiller show that prices in some south suburbs have dropped to where they were in 1992, when a gallon of regular gas cost $1.15 and a year of in-state tuition at the University of Illinois at Urbana-Champaign was $2,486."

“'We're like in some kind of a time warp here in the south suburbs,' says Janice Minton-Kutz, a broker associate at Coldwell Banker Residential Brokerage with several listings in the area. 'It's really sad.'”

Full Story: Where the housing recovery is only a faint hope

Comments

Build Your Own Paper Block City

Urban Fold is an all-inclusive kit that allows anyone to build the city of their dreams with a few simple folds.
$24.95
building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Woman wearing city map tote bag

City Shoulder Totes - New Cities Added!

Durable CityFabric© shoulder tote bags available from 9 different cities.
$22.00
Book cover of Where Things Are from Near to Far

Where Things Are From Near to Far

This engaging children's book about planning illustrates that "every building has its place."
$19.95