Hints of more activity in U.S. housing sales

Full story: Chicago Tribune

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.
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1 - 4 of 4 Comments Last updated Aug 26, 2008

“Full service, discount broker”

Since: Apr 08

Chicago, IL

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#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

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#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

Plano, TX

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#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

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

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