The Chicago Tribune today had a story on the mortgage debacle. Data for the eight counties was displayed and figures for inventory depletion (abut 23 months) was given.
For this market, there is a 1 month delinguency on mortgage payments for 20% of the market. The report states that of those in this category, 80% will fall into foreclosure or short sale.
This is one of the strong points of the Chicago market. Given the above information, there are markets in the 8 county area that are experiencing price increases and enjoying new construction. The light above is new business.
Comments(2)