Wednesday, September 30, 2015
What is Illinois doing to create real estate mess?
JIM TURNER asks some good questions in this August 1 letter in the Dispatch/Argus. "I found the July 22 article on Americans buying homes in June at the fastest rate in eight years does not jibe with my experience. I have a home in a Chicago suburb that I have been trying to sell since 2009. At that time, the home appraised at $515,000. I just accepted an offer of $300,000. By using the Zillow.com website, I put in my zip code of 60439 and found 286 homes for sale. By adding all the zip codes around Chicago I found 10,157 for sale. Next I tried the Wisconsin zip cod and found 39 for sale around Milwaukee and 348 around Indianapolis. ..... Clearly Illinois is not seeing a housing shortage while Wisconsin and Indiana are. ..... I wonder what policies Illinois has that Wisconsin and Indiana do not to cause such a difference?"