Tuesday, August 28, 2007

Over-valued real estate #8 - Chicago

Chicago has a fairly bad case of over-valuation fever. House prices are currently trading 34 percent above their long run trend growth. Normally, Chicago homeowners could expect a 0.95 increase in prices per quarter. Over the last three years, prices for a single family home have been increasing by an average of 3.7 percent a quarter. That can't go on for much longer.....

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