Hints of more activity in U.S. housin...

Hints of more activity in U.S. housing sales

There are 4 comments on the Chicago Tribune story from Aug 26, 2008, titled Hints of more activity in U.S. housing sales. In it, Chicago Tribune reports that:

Home buyers took advantage of sharply falling prices to snap up bargains last month in some parts of the country, though not necessarily in the Chicago region.

Join the discussion below, or Read more at Chicago Tribune.

“Full service, discount broker”

Since: Apr 08

Chicago, IL

#1 Aug 26, 2008
You can find longer term trend data here:
http://blog.lucidrealty.com/chicago_real_esta...

It's not a pretty picture.
nam

Naperville, IL

#2 Aug 26, 2008
Sorry to say but price is the issue. Banks are starting to ask for down payments, savings and strict debt to income ratio before approving a mortgage. there is a very small pool of families making more than $150k a year to be able to buy a $400k house.
dude

Austin, TX

#3 Aug 26, 2008
nam wrote:
Sorry to say but price is the issue. Banks are starting to ask for down payments, savings and strict debt to income ratio before approving a mortgage. there is a very small pool of families making more than $150k a year to be able to buy a $400k house.
What a concept! You have to have proof that you can afford the loan. What is this world coming to?
Seth

Woodridge, IL

#4 Aug 26, 2008
Best thing that can happen in Illinois. Housing prices so screwed up here. Keep on sliding!

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