Chicago Housing Bubble

Nate Silver knows politics. And housing.

Nate Silver is the man behind the brilliant and super-nerdy blog "Five Thirty Eight". He's not your typical douchy blogger. He's the real deal. I wrote him a couple love letters with hearts and stickers and rainbows on it during the election. But then we went on a bit of a break. And now I'm going to start telling my girlfriends that I like him again.

Why? Because of this awesome post about the housing market and the middle class. Read it and be enlightened as I have.

Best part - housing's success is paramount to the economy.
Worst part - he's a renter. Shame on you Nate.

Home Prices Back to March 2004 Levels

If you have been waiting to buy a new home now might be the time. Homes prices area nearing pre-bubble values.


http://news.yahoo.com/s/nm/20081230/bs_nm/us_usa_economy_housing

Chicago Housing Bubble

The media is full of people predicting the future and talking smack about the current housing market. My problem - most of the media talks only about the national story or the one that will scare you the most. After all, we're an economy built on fear. That's why I still have 700 gallons of water and 300 cans of Dinty Moore Stew left over from the millenium. I'm sick of it and since I watch the market every day (it is my job after all), I wanted to start a dialogue of truth and saracasm right here in Ye Ol' Cyberspace. So there you have it. Let's have some fun talking smack about those smack talkers and traditional media.

Mortgage Applications climb 2.9%

Mortgage application volume jumped last week, fueled by borrowers seizing on lower rates to refinance home loans...

http://www.msnbc.msn.com/id/28280779/


We should also take into consideration that this spike in applications was before the Fed dropped it's lending rate to nearly zero.

Money is free

Money is free again. And real estate in Chicago is undervalued to the tune of 3%.

Now it can't get better than this:
http://news.yahoo.com/s/ap/20081218/ap_on_bi_ge/financial_meltdown