Friday, August 31, 2007

Overvalued real estate - Chicago




I received an email from Brian, who wanted to see the housing price index chart for Chicago. Historically, the housing market there has enjoyed stable housing price appreciations. However, things took off in the late 1990s, and now prices are about 34 percent above long term trend. Since 2001, prices have increased by almost 44 percent.

I have posted charts and summary data for major cities on the Housing Bubble Resource Center website. There you will find links to other blogs and sites that follow the inflationary madness that has affected the real estate markets of this country.

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