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Year/decade in review, new Realtor laws in this week's real estate news

Maureen Wilkey

Writer on real estate from any angle

Welcome to 2010! Here's the real estate news for the last week:

- There's going to be a renting bubble in 2010:The Sun-Times predicts that the 2,200 new apartment units coming online in the downtown area will cause a glut in 2010. Also, prediections on the Spire and Block 37.

-Education requirements increased for real estate pros:Illinois Government News Network says governor Quinnhas signed a billinto law that brings the requiredhours of education from 45 to 120 hours. The entry level title for real estate professionals is now "broker" and "managing brokers" require even higher levels of education in 2010.

-Middle Eastern firm invetes in residential protect in Chicago: Kuwait Finance House owns 95% of the Prism Company project, with a $242 million investment, according to Reuters.

-Guess where Ivanka Trump stays when she's in Chicago? It comes as no surprise that the real estate heiress and professional loves Chicago for its food and shopping and stays in Trump International Hotel and Tower.

-The housing crunch is the number one source of economic decline this decade: The Sun-Times reports that over-lending has helped cause the biggest downturn since the 1930s, although there have been several other factors  in the mix as well. 



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