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“A home equity desert.”

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Andrew Szakmary

The article shows house prices in the west suburbs declining between 20.8% and 52.9% over the January 2007 to January 2015 interval in inflation-adjusted terms. Well, the national 20 city Case Shiller home price index declined by 25.5% in inflation-adjusted terms between January 2007 and January 2015. Is this also to be blamed on high property taxes? Or is it perhaps possible that something entirely different, the bursting of the real estate bubble, might have had something to do with the price declines in the Chicago area?


Between January 2007 to January 2015 the S&P CoreLogic Case-Shiller Chicago Home Price NSA Index has declined more than the S&P CoreLogic Case-Shiller 20-City Composite Home Price NSA Index.