Tag: economy

Resisting the temptation to declare the start of a Chicago housing market rebound

The March sales numbers from the Illinois Association of Realtors were good for Chicago. Not only did the number of condo and single-family home sales in the city rise during the month, so did the median price of these sales. That last point is important. For months, city of Chicago home sales have been rising,... Read more »

Looking for a quick real estate turnaround? How about waiting until 2015?

Albert Berriz Are things getting better yet in the real estate world? No one knows the answer to that. But those people working in the business say that anyone who expects a quick real estate turnaround, on both the residential and commercial sides of the business, is bound to be disappointed. Yesterday, for example, I... Read more »

Why so stressed out Chicago?

Trying to get to work each morning in the Chicago area is no easy task. Housing values here are falling. The unemployment rate in Chicago stood at 10.5 percent in July, higher than the national average. And a new report from the Federal Reserve said that the economy in Chicago is actually slowing. It’s all... Read more »

My bad housing day

I’ll have to mark today down as one my bad housing days. Of course, I’m far from alone. Many of us woke up this morning to the disturbing news that home sales had fallen to a 15-year low. This is amazing. Home sales dropped an all-time high of 27 percent from June to July. Yep,... Read more »

Are you a 99er? Then you've probably lost your house already

Are you a 99er? If so, my thoughts are with you. For those who don’t know, a 99er is someone who’s been jobless for more than 99 weeks. This is significant because these people will no longer receive federal unemployment benefits. Congress in July voted to extend these benefits for people who’ve been looking for... Read more »

Paul Beitler: Frugal consumers don't help the economy, or real estate

J. Paul Beitler Because I’m the editor of a real estate trade magazine I often get to speak with influential leaders in the world of real estate. This morning I spoke with J. Paul Beitler, president of Chicago-based Beitler Real Estate Corporation, one of the more influential commercial real estate companies in the country. You... Read more »

Why residential real estate is killing the economy

Thomas Dennard Technically the Great Recession is over. It just doesn’t feel like it. There are two reasons for this: Unemployment is too high and the housing market is still in the dumps. That’s my feeling, anyway. The unemployment thing is pretty easy to understand. People don’t feel financially stable if they’re worried that they... Read more »