Home prices are still rising in Chicago. While other areas of the country continue to see declining home prices, Chicago continues to eke out a modest gain. See: Chicago Housing Continues to Appreciate

There are good reasons for this, too… Chicago is a growing community and, lets face it, we like living here. With the lake and hundreds of parks, plenty of public and private golf courses, easy get-a-ways to Wisconsin and Michigan, great food and night life, and two regional airports when you really need to get far-far away. We have a well balanced workforce, ethnic diversity living in reasonable harmony (considering world events), a relatively well educated population and opportunity for higher education or technical training for anyone who desires something better. All this adds up to a great place to live. The next logical step is finding a home.

Most people in Chicago buy property to live there. It is an investment you can live in, but primarily it satisfies one of our most basic needs - shelter. In areas of the country suffering from real estate deflation, there was an indulgence in speculation in real estate. This hurt everyone. Short-turn loans with absurdly low interest rates fostered over-buying and unsustainable inflation. Thankfully, those teaser rates are over. And, rates are still historically low for buyers. Real estate is a necessity and a long term commitment. It is also the only real tax break left for the regular guy.