In the boom years, retirees could depend on real estate to bankroll their retirement. But sinking property values have changed the equation for “last-time” owners, retirees and seniors looking to sell their homes.
For the first time in the U.S. since the 1980s, it’s cheaper to buy a home than it is to rent. You’d think that would be cause enough for bargain hunters to buy up cheap, undervalued properties, but many would-be homeowners are still hesitating.
With home prices in the Chicago area down 6.9 percent from a year ago, we know a lot of folks have real-estate-related questions. Dennis Rodkin, who writes the Deal Estate column and blog for Chicago magazine, has answers, or at least he can try. If you have questions about economic trends, housing policy, selling your home or more, call Eight Forty-Eight's 24-hour hotline at 855.848.5551. He'll get to as many of your questions as he can on Monday's show.
Two Chicago-based non-profits, Community Investment Corporation and Business and Professional People for the Public Interest, have won prestigious MacArthur Foundation grants. The MacArthur Foundation is known for giving genius grants to creative people, but the group also makes annual awards t