While the decline in housing prices in America has been making news for some time now, less attention has been paid on this side of the Atlantic to the downturn in European housing. The housing market in Europe, much like that of the United States, "soared during the first half of this decade, rising far beyond the levels that you'd expect, based on traditional economic factors." read more »
S&P released the July Case-Shiller Index today. Check out our line chart to follow the trend in each market. read more »
New home sales went down by a whopping 73 percent in the Windy City during the first six months of this year. But developers, anticipating high demand - especially for the condo market - have committed to keep building them. From the article in Crain's Chicago:
"Developers are building at a record pace, with 9,528 units scheduled to be finished by the end of next year, Appraisal Research says. Nearly 33% of those remain unsold, a high percentage but slightly better than the first quarter's 35%."