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In United States
Registered Dec 05, 2011
GUAB's most recent comments:
- On 23 Aug 2012
Your picture proves why Phoenix people live in Phoenix and not Chicago.
- On 31 Jul 2012
Case Shiller July 2012,
In MMR there's only 1 active listing, and it's one in a gated community priced at nearly $240 a sq ft (high for that area). It's been sitting but the finishes were very.... taste specific, so I assume that's why (Granted, only been on market for 13 days, but that's a long time in MMR).
- On 29 May 2012
Lots of problems in Chicago right now.
Because of the massive amount of rental supply -- rental pricing is not going up fast enough and you have people renting 1/2 bedrooms either Near North or Loop for often times less than or close to what the owner is paying in condo fees + property tax -- not even including a mortgage! Lots of free and clear owners there who just want to keep the income at break even at least and keep it rented.
Income/property tax/Illinois issues are causing people to either leave, or rent instead (especially given how cheap it is to rent there right now).
Inventory isn't shrinking or if it is, not enough to make a difference.
List goes on.
Chicago will be worse off than Vegas, ATL, and Detroit in the next 24-36 months (I'm sure there will be exceptions for Detroit). At least Phoenix hit it's 55% drop in like 3-4 years -- Chicago will hit that and it will take 7-10.
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