Posted by: union03g | July 26, 2009

Forbes: Lincoln Park One Of America’s Most Troubled Lux-Markets

First question – what the hell does Forbes know about Webster St. or Bissell St.? I love when national media company opines on local real estate markets, its like Obama talking about my neighborhood politics.

Given the glut of unsold homes, Lincoln Park’s prices may well slide at least 15% this year–as Chicago’s did in 2008. If you look at Fiserv data going back many years, you find values in Lincoln Park track the rest of Chicago pretty closely with a one-year lag.

Forbes thinks Chicago’s Lincoln Park is one of America’s most troubled luxury neighborhoods and I just think Forbes is trying to start fires to sell their product. Why didn’t Forbes pick on the South Loop instead where new condos are being delivered by the hundreds? Well, they probably don’t even know where it is. We should also bump Manhattan’s figure to -20% don’t you think? And were is Florida/Arizona/Las Vegas? Is Forbes trying to manufacture fresh news?

Article Here

Forbes Projected Real Estate Declines

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: