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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (35515)	7/18/2005 3:36:58 AM
From: John Vosilla	Respond to of 306849

"Now I can have that (50 mi NW of Chicago in an excellent school district) for 600K or a 2 BR condo in a stupid florida hi-rise condo for the same amt. Is this supposed to be a serious decision?" It makes no sense considering they can put up an unlimited amount of high rise condos with water views or rent it for a fraction of the cost of ownership. Just turn a thousand miles of Florida coastline into the gold coast of Chicago. Also makes no sense your house is perhaps only $350k in Atlanta or $250k in Houston. Where I live it would be $800k now($350k just for the land) but up in Orlando only $450k.

To: mishedlo who wrote (35515)	7/18/2005 3:42:51 AM
From: John Vosilla	Respond to of 306849

Developers are condo-crazy all over the US and Chicago is no exception. "Many are reeling at the sheer volume of high-rise residential development storming their way. Within the next five years, another 13 high-rises will go up in the area wedged between Michigan Avenue and the lake, and Chicago Avenue and the river. That will boost the supply of apartments and condominiums by more than a third, to 12,523 units." "The building boom could bring another 5,250 residents to a neighborhood already housing 13,535. 'It seems kind of overwhelming,' said Deborah Mitchell, who owns a one-bedroom condo on East Ohio. 'The numbers I've heard seem staggering.'" "The concerns weighing on the neighborhood are many. Random chats with neighborhood residents indicate many harbor concerns, the biggest ones centering on traffic. On summer evenings, traffic can gel into gridlock, said Stephen Daniels, who owns a condo on East Ohio as a second family home. On such nights, 'traffic-wise, it's almost unbearable,' he said. 'And with what's on the books, it will only increase.'" "The volume of units coming on the market has other residents concerned. 'Basic economics tell you if there is oversupply, it will depress prices,' said Mitchell, a professor at the University of Chicago." "'We've been told they are going to put up condos here,'law student Shaun Raad said. In fact, it's something of a neighborhood joke. 'People say, 'That's what we need around here, more condos. You can't look around without seeing more condo ads.'" thehousingbubble2.blogspot.com

To: mishedlo who wrote (35515)	7/18/2005 11:37:42 AM
From: Don Green	Read Replies (2) \| Respond to of 306849

I like change of seasons too Four seasons are great but! The problem with your area of the Midwest is they are "extreme" seasons. Here in Pacific Northwest we have four seasons, but they are all mild. One of the main reasons San Francisco area is so popular to live is again their seasons are mild.