Market Conditions: May Sales Soar 19.6% Over 2011’s Depressed Level; Median Price Rose
We continue to see an improvement in the sales numbers this spring compared to 2011.
From the Illinois Association of Realtors:
In the city of Chicago, May 2012 home sales (single family and condominiums) totaled 2,037, up 19.6 percent from 1,703 homes sold in May 2011. The city of Chicago median home sale price for May 2012 was $203,000, up 6.8 percent compared to May 2011 when it was $190,000.
For as “good” as everyone thinks the market is, sales were still under the tax incentive juiced May 2010 number.
Sales data from the last five years:
- May 2008: 2119 sales
- May 2009: 1557 sales
- May 2010: 2057 sales
- May 2011: 1705 sales
- May 2012: 2037 sales
Median price data over the last five years:
- May 2008: $319,500
- May 2009: $225,000
- May 2010: $230,000
- May 2011: $190,000
- May 2012: $203,000
“First-time homebuyers, move-up buyers and investors are finding compelling pricing and historically low interest rates as a perfect incentive to buy now,” said REALTOR® Bob Floss, president of the Chicago Association of REALTORS® and managing broker-owner of Bob Floss and Son Realty. “With a scarce supply of rental homes available and rents increasing across the city, those on the fence are using this market to make their mark and purchase a home. REALTORS® are optimistic the market is stabilizing and will continue to show affordable options be absorbed by homebuyers this year.”
59 out of 100 counties showed median price increases in the month.
“For the first time since the recession began, median house prices are increasing on an annual basis and are forecast to continue this trend through the end of the summer,” noted Dr. Geoffrey J.D. Hewings, Director of the Regional Economics Applications Laboratory of the University of Illinois. “The weaker than expected job figures for the last few months appear not to have affected the housing market; inventories are down, sales volumes are up and the pending sales index is at its highest point since 2008.”
Does the data now confirm that 2011 was, indeed, the bottom?
May home sales in Illinois up 22.1 percent from a year ago; Chicago area ends 49 months of median price decreases [Illinois Association of Realtors, Press Release, June 21, 2012]
As we’ve discussed there are a lot of positive signs right now for sellers: low inventories, lower mix of distressed sales, higher volume, large pending backlog, higher contract activity, etc…I posted on these a couple of weeks ago http://www.chicagonow.com/getting-real/2012/06/continued-positive-signs-in-chicagos-real-estate-market-in-may/ One of the things I’ve done is created a 15 year Chicago sales history chart using G’s data along with my own to fill in the missing pieces. As G would say “it’s a pretty chart”.
This data comports with what I am seeing in our building (300 units) and the River North neighborhood. Sales seem to be to first time homebuyers and in towns for suburban couples.
There are ZERO units for sale in my 165 unit buidling which I find a bit wierd, but like I said before the fed is going to do their darndest to get mortgage rates so low that it makes sense to buy rather than rent.
Whether or not it will work (without unforseen consequences) remains to be seen. I don’t care, I’m refinancing tomorrow @ 3.25% on a 30 year fixed with zero closing costs or points. Thats pretty bad ass as my unit would now cash flow positive if I decided to rent it out (I’m not).
We’ve seen a ton more purchase activity. Who knows how long it will last but the people who are in a position to buy are definitely out in force. The low inventory seems to be driven by lack of acceptable product. Very few want to deal with short sales, foreclosures, owners’ whose pricing reflects lack of equity, and properties that are in dire need of updating. The choice properties are being snapped up.
2011 will be the bottom until enough people think the market is doing better and sellers start listing again. At that point the people currently buying homes will be set and I’m not sure they will be replaced with even more confident buyers. Inventory will go back up and places will begin sitting longer and while prices may not drop again they very likely will at least flatten out.
Every home I looked at in my search has gone under contract or sold, whereas many homes I’ve watched over the years have sat unsold for years.
This is just a temporary bottom. the boom went on for 8 years or longer, there’s no way it’s going to fix itself in just 5. I expect this new lows and price declines until at least 2014 or 2015. Yet I bought despite knowing this. But what do I care, I own a $70,000 crapshack in Des Plaines, so what do I care? How much do I really stand to lose? ahahahhaha I don’t really live in Des Plaines.
Benjamon – seasonally adjusted case shiller numbers for January, February, and March have all set new post 2001 lows.
In my non GZ neighborhood, homes that list go under contract quickly. Closings seem to be taking 3 months in some cases, which is interesting. Mostly older retirees down sizing and young families with kids moving in.
It does look like 2011 may have been the bottom. Of course, the macroeconomic climate is still incredibly uncertain, so it’s very hard to say what the economy and housing market could look like next year.
Sonies, which lender gives you 3.25% 30y no point and no closing cost loan? It seems to be too good to be true. I would refi too if I can get that rate.
“This is just a temporary bottom. the boom went on for 8 years or longer, there’s no way it’s going to fix itself in just 5.”
Define “fix itself”.
the terms and rates is from the bank of the place in which I work, they pay the closing costs if you’re an employee. Nice benefit I guess
I am doing a streamline refi, so the rate is a FHA rate which I believe is a tad bit lower than the conforming loans rates
“Define “fix itself”.
1999 or better in most areas of Chicagoland! I can’t speak for any other region of the country.
Sonies, do you have to pay mortgage insurance to FHA? If you have to pay 1% upfront and 0.85% every year thereafter, the 3.25% does not seem very attractive. I’d rather get a conforming loan for 3.75%. Anyway, mortgage rates are at historically low and housing affordability is the historical high. It feels like the market is building a bottom here. I may not go up much, but the downside should be limited. Just look at the recent sales in 340 OTP and 600 LSD. I heard the developer of 600 LSD had only 2 units left.
I have to pay like 30 bucks of up front mortgage insurance on this refi and keep the same .55% PMI that I have been paying, since the loan balance is lower, the PMI actually is decreased. This is why I was waiting for the streamline program to hit, because before it didn’t make sense to refi since the PMI costs were soaring through the roof!
So just curious, is anyone acutally seeing rents go up? I alsways hear this but just figured its more realtor speak. I havent seen rents increase in the North Center / Lincoln Square area for 6+ years. In fact its gotten worse since there are alot of “new condo quality” units for rent.
That’s odd, it seems like rents are outrageous in LS area. Crappy one bedrooms going for 1300/month
“is anyone acutally seeing rents go up? ”
My landlord jacked up rent after I moved by 20% and had zero trouble renting it out. I know people in lakeview who’ve seen some pretty hefty rent increases. I also hear anecdotal stories of that rents are hot right now.
haywood, rents are going up. What is your measuring stick? Are you looking to rent or you own a building? Unless your product is garbage, rents are going up everywhere.
Re: sale market
as interest rates bottom out here, i think you will see a little bounce but then another steep drop as interest rates are raised.
My buddy was looking for rentals two months ago and he had to move west of Cicero to find a decent 2 bedroom for less than $1,200.00. He said that $1,200 or more was the floor for decent one bedrooms along the blue line.
A similar jump occurred in 2010, but reversed in 2011.
When I say crappy, I mean crap. Things on the L or on Western. Not been updated for a long time.
my evidence is anectdotal,
I had a vintage 2 flat on Wolcott that I sold in 2002 and I was getting $1000/month for a three bedroom, classic vintage chicago. Left the city and came back and I had a 3 bedroom, vintage at Montrose and Wincheste that was around 1100 sq ft for $1100 with no rent increases the whole time I was there, and when I moved out the landlord couldnt get more for it 4 years ago, recently saw a sign on the building for the unit for $1200.
the building I am in now is converted condos by Damen and Cullom (2 +den), washer / dryer in unit, disposal, dishwasher and a garage space for $1500, and non of the other underwater landlords can seem to get more then that
seems like there are plenty of $1200 vintage places in Lincoln Square, Roscoe Vilalge, North Center, and that has been the going rate basically for years
I know two mid-high rise condos (one 1BDR, another 2BDR) in much-CC-loved SLoop, raising rent by 13% and 11% respectively YOY, with new tenants coming in June/July, received multiple offers, contracted signed with high on-paper quality tenants in two weeks of showing. “Cookie Cutter” condos, <10 years old.
My rent went up almost 20%. So I went out and bought a place.
My friend rents a 2/2 in one of the new rental buildings in the loop. His rent went up $500 a month. He was going to move, but everything else either wasn’t as nice or just as expensive.
“is anyone acutally seeing rents go up? ”
According to Zillow they sure are. Just posted this this morning: http://www.chicagonow.com/getting-real/2012/06/chicago-rents-continue-to-surge/
Off topic but we need an efficient CC way to tell whether LS is referring to Lincoln Square or Logan Square.
Rents are up, and the options are still limited and the quality is still low. Not sure what we’d rent our two bed out for, but whatever we could get, we’d have to spend quite a bit more to rent something comparable with a small third bedroom. Which means that, assuming we temporarily return to renting while updating/selling our current place and searching for a new place to purchase, we’ll no doubt be paying more for less.
“According to Zillow they sure are.”
Really?? Zillow? Then I know it has to be true!
Please do note the sarcasm….
“Off topic but we need an efficient CC way to tell whether LS is referring to Lincoln Square or Logan Square.”
So, still assembling data for the wiki. When does beta testing begin?
[mistyped my name/email, if this pops up twice]
I looked at their estimate of my home’s value once – it was a range of something like $200,000 – $1,000,000.
“Really?? Zillow? Then I know it has to be true!”
I thought LS meant “lake shore” area. Ha.
I rented out my Old Town place within a week. It’s newer constuction and the rent is $800/month over my carrying costs. Everyone tells me I could have gotten more.
Looking to buy, my coworker did the exact same thing. The tenant signed a two year lease as well.
Chicago has a serious problem with violence in the city. Whether statistically real or simply perceived, it doesn’t really matter. Sure, 1BR renters trading to a condo might be a short run phenomenon, but the underlying dynamics for families continues to deteriorate. A homeowner getting his throat slit for no apparent reason whilst out walking his dog 2 blocks from Blaine Elementary doesn’t really help matters. Bad and getting worse.
“This is just a temporary bottom. the boom went on for 8 years or longer, there’s no way it’s going to fix itself in just 5. I expect this new lows and price declines until at least 2014 or 2015. Yet I bought despite knowing this.”
I agree. I think without FHA we’d be lower now, but on the way to recovery. But that FHA influence really affects the sub-410k market here. I used to think bottom in winter 2014/2015, but the economy doesn’t appear to be improving very quickly. It could be 2017 or 2018 at this rate.
Most of the Chicago area market is sub 410k. Rest assured though the loans are at least fully documented, foreclosures, bankruptcies and all.
Mention crime in Chicago and the urbane city dwellers call you a fear monger. Crime outside the city limits doesn’t even compare to crime within the city limits yet this is conveniently ignored by the Green zone dwellers.
“Mention crime in Chicago and the urbane city dwellers call you a fear monger.”
Do you talk about any crime other than child abductions by strangers, tho, HD? Think that’s actually pretty close city v. ‘burbs in the long run in any case.
Sonies- I beg you to do a 15 year note. Bite the bullet on the much shorter term and in 5 years you will not be sorry. By then rents might have even gone up enough to cover most, if not all, the difference and you will be within a short chip shot to the finish line aka mortgage free!
Jenny – I’m assuming that your friends not in some $5k per month penthouse. That means it was ikely a 20% to 25% raise. They should have walked….make that run away…. from that contract. They were LAZY and for 12k (most people stay at least 2 years) naive. Tell me they at least submitted a counter offer. An all star tenant who has paid on time and taken care of the unit has some degree of leverage.
http://chicago.cbslocal.com/2012/06/20/man-tries-to-kidnap-girl-14-in-edison-park/
Not by a long shot
BTW – where is Clio to claim that he has Ben right all along?
“Crime outside the city limits doesn’t even compare to crime within the city limits yet this is conveniently ignored by the Green zone dwellers.”
Its ignored by the MSM as well. Unless it happens inside the GZ. Even inside the newly gentrified GZ, the news doesn’t cover it for long. Remember that girl who got all her teeth knocked out in the S Loop? Well that guy’s been arrested a few times since then and has a routine of getting locked up for a year or two then promptly re-offending to get three hots & a cot.
“I looked at their estimate of my home’s value once – it was a range of something like $200,000 – $1,000,000.”
I address this in my blog post. I think Zillow is useless for individual home values. However, one would think that the errors cancel in the aggregate and the trend over time is valid.
“A homeowner getting his throat slit for no apparent reason whilst out walking his dog 2 blocks from Blaine Elementary doesn’t really help matters. Bad and getting worse.”
I heard this story on WBBM this morning and then looked it up to see what the “real” story was.
Frankly, I don’t believe it was a stranger. I don’t believe we have the WHOLE story. Neither the Tribune or the Sun-Times is running with this. And, as you say, it was in a VERY prominent neighborhood. Also, in the story I read on CBS, he said he filed a police report (um…yeah…) and that he hopes the police artist comes by so he can post signs.
Why wouldn’t the police be all over this? Very prominent people live just a block or two away from this incident. When I lived in DC years ago, if ANYTHING happened in the Georgetown neighborhood the cops were all over it. They were there within seconds. For instance, remember all the first floor break-ins in Lakeview last summer (as people left their windows open)? It was ALL OVER the news and the police really stepped up patrols.
If a psychopath who just grabbed someone and slit their throat as they were out walking the dog without robbing them or saying anything else was still out there- you think the police wouldn’t at least be posting pictures of the suspect????
Something smells.
I just watched the news on this, and a sketch has been released and there is “palpable fear” in the community. However the story does sound odd. The guy slashes his throat then just stares at him and does nothing more and doesn’t say anything then just leaves?
“the building I am in now is converted condos by Damen and Cullom (2 +den), washer / dryer in unit, disposal, dishwasher and a garage space for $1500, and non of the other underwater landlords can seem to get more then that
seems like there are plenty of $1200 vintage places in Lincoln Square, Roscoe Vilalge, North Center, and that has been the going rate basically for years”
Yes- there is a difference between what is going on downtown and what is going on in the neighborhoods. The units renting fast in the neighborhoods are condos with condo quality finishes (i.e. granite, stainless, in-unit washer/dryer, parking etc.) And rents are going up on those.
But the standard vintage 2/1 with the older kitchen and bath just isn’t going to rent for $2000 a month no matter how much they will it to be so. They’re lucky if they’re getting $1500 (depending on the neighborhood- of course.)
“Neither the Tribune or the Sun-Times is running with this.”
It was a top story on WGN news all night, which happens to be a Tribune Company. They also interviewed the victim. But never mind the facts.
http://www.chicagotribune.com/news/local/breaking/chi-police-issue-alert-after-attacker-slashes-mans-throat-in-lakeview-20120621,0,379723.story
I can’t speak for the Sun Times since I graduated from high school I don’t read it.
“Why wouldn’t the police be all over this?”
CPD put out a crime alert.
http://www.44thward.org/community-alert-6-21-12/
Tunney even put it on his website as you can see and subsequently issued a statement on the matter.
“If a psychopath who just grabbed someone and slit their throat as they were out walking the dog without robbing them or saying anything else was still out there- you think the police wouldn’t at least be posting pictures of the suspect????”
You are so clueless.
“Neither the Tribune or the Sun-Times is running with this.”
Actually, they are.
“Why wouldn’t the police be all over this?”
Alert was issued today.
“If a psychopath who just grabbed someone and slit their throat as they were out walking the dog without robbing them or saying anything else was still out there- you think the police wouldn’t at least be posting pictures of the suspect????”
Alert was issued with an artist depiction (suitably scary looking, if you’ve seen it).
“Something smells.”
Might be your cluelessness.
“Neither the Tribune or the Sun-Times is running with this. And, as you say, it was in a VERY prominent neighborhood. ”
Apparently they are now, posted a little over a half hour ago:
http://www.nbcchicago.com/news/local/Sketch-Released-of-Wrigleyville-Attacker-159886705.html
OOPs it’s not the Trib nor Sun-Times. But apparently Sabrina is one of the dying few who reads those anymore. Sun-Times doesn’t even deliver it’s own papers anymore. They’re gone in eight years tops.
The cops are too busy chasing hoodlums in high crime neighborhoods. It is known.
I don’t like when comments do not stay focused on Real Estate, yet I have to comment that violence has absolutely picked up in the city. I have always read police logs in neighborhoods that look attractive to own property, and violent crime has picked up dramatically over the last few years. (here in Museum Campus, gun point attempt in alley as one pulled into their garage). Chicago Journal – Crime
Back to Real Estate it is an excellent time for first time homebuyers (for the sellers who willingly adjusted prices lower).
Sabrina- RE: “Frankly, I don’t believe it was a stranger. I don’t believe we have the WHOLE story….Something smells”.
I know the victim fairly well. I live near him. Since you DON’T know him, I’ll share with you that he’s a stand-up guy who’s lived in the area for about a decade. He’s always walking his dog: Day or night, rain or shine, so it’s normal for him to be out walking the area at night alone. He’s well respected and liked. He’s not a trouble maker, junkie, wierdo, etc. He doesn’t start touble with people. He’s a fantastic neighbor and cares deeply about the community. Apparently that’s why he went public and wanted a sketch of the attacker.
He’s a victim. Nothing more, nothing less. Let’s not cast suspicion upon him please. He was almost murdered, and you simply can’t believe the story because it happened near Blaine in a ‘good area’? WTF? Get over it, please.
MMCG –
I understand you would like to focus on Real Estate. But I do think crime is a part of real estate. If crime it getting worse, for some people, condos with doorman will be more desirable than townhouses and single family. Or, more people will choose suburb than city.
Gated communities for the townhouses is a nice upgrade to condo + doorman.
One thing I always find hilarious when I go into the exburbs, particularly in the south (Atlanta) is that all the communities are gated. The people in these communities are out in the middle of bumblestank suburbia like 20 miles outside of the urban core, hardly afflicted by violent or even petty crime, yet they need some big ass gate surrounding the development and in some cases, full time guard houses.
Russ –
I guess most people prefer a gated community even in exburbs. The peace of mind is priceless.
Sure a gated community is an option in the burbs. I recall that one way way out called Wynstone or something and wondered what they were gating out of their area. Don’t forget that those people living within the gates are not all saints and angels! And any random pizza guy can get into the gates pretty easily and then do whatever mayhem he wants.
my guess is the gate make them feel fancy (not safe). like they are entering an exclusive country club.
“Sonies- I beg you to do a 15 year note. Bite the bullet on the much shorter term and in 5 years you will not be sorry. By then rents might have even gone up enough to cover most, if not all, the difference and you will be within a short chip shot to the finish line aka mortgage free! ”
On a 15 year note, I’m only saving like 100 bucks a month in interest and It costs 700 a month more (all going to principal mostly) I figure I like the flexibility of the 30 year and I actually plan on putting more money towards principal now anyway.
Question for the well informed here on cribchatter:
How difficult is it to qualify for a mortgage (sub 400k), if you currently own a condo which is underwater? Income qualifications would not be an issue.
Thank you in advance.
“I actually plan on putting more money towards principal now anyway”
You don’t think you can get a better return over the long run? Don’t let Ze find out.
“homedelete (June 22, 2012, 6:59 am)
The cops are too busy chasing hoodlums in high crime neighborhoods. It is known.”
yep the hood punks know this too that why you are seeing crime (not homicides) pick up in “safe” neighborhoods.
after the mob beatings and todays shooting Michigan ave will be the safe street in the city by a far margin. Sad its a reactive thing not a proactive that the RahmMcCarthy fuchs are doing.
soon very soon groove may calling it quits on his city. even if its a perception issue.
“He’s a victim. Nothing more, nothing less. Let’s not cast suspicion upon him please. He was almost murdered, and you simply can’t believe the story because it happened near Blaine in a ‘good area’? WTF? Get over it, please.”
Well said though I am not sure you need to even remotely think about defending someone who is obviously a victim, regardless of what the fact pattern was. Who cares how it went down?
Sure there is always more to a story but the fact of the matter is the guy had a slashed throat and ended up on Clark bleeding to death. Regardless of the fact pattern, that is not an acceptable situation to have in any community, at any time.
Interesting that if you read the interview, said victim attributes the lack of publicity to concern it might the upcoming parade on Sunday. Regardless of whether that is true, its a really interesting angle I would have never thought of.
From my dealings with city council members, rarely do they make public statements about something like this unless they are hearing about it from a lot of sides. So, I’d hazard this is a fairly big deal to a lot of people and those people want answers.
It is definitely safe to say we are in the midst of a HUGE rental property bubble. Just look at all the new apartment towers going up, asking crazy rents. How much demand is really there for $2000/mo+ studio apartments?
where are there studios renting for 2k?
“where are there studios renting for 2k?”
72nd and Lex.
“He’s a victim. Nothing more, nothing less. Let’s not cast suspicion upon him please’
I totally agree…. but… who gets their throat slashed and then gets in front of the camera on the evening news, bandages and all, to talk about it? Seriously? If that had happened to me (or you) I assure you I’d be so hopped up on *anything* they’d give me to numb the pain, both physically and emotionally, an interview on channel 2 no less, would be the last thing on my mind. Not that I don’t believe him, but something is a bit odd here.
I talked with my neighborhood beat cop last year about the wave of random beatings in LP. I’m all like ‘that’s horrible’, and it was, but he said the media failed to mention the coke deals gone bad part of the story, because you know all those former frats and debs only get into Miller Lite after all. I’m just saying…
“my guess is the gate make them feel fancy (not safe). like they are entering an exclusive country club.”
gated subdivisions/gated estates in the burbs are more for privacy than security. I live on a private gated property/estate and I installed my gates strictly for privacy (you would be surprised at the many “curious” people who would actually drive 400 feet down my driveway to my backyard/coach house and just point and look around – when I would go out there, they would either IGNORE me, act annoyed, or be so clueless and say “oh, we always wondered what it looked like back here”) soon thereafter, I secured my property and put up the largest gates possible. Problem solved.
“you would be surprised at the many “curious” people who would actually drive 400 feet down my driveway to my backyard/coach house and just point and look around”
Clio, I’m not surprised they stopped and stared and pointed when they saw you. They got confused and thought they were at the zoo…
🙂
“where are there studios renting for 2k?”
River North…Studios at EnV start out at about $1700 and go up to $2100.
The smallest 1 bedroom (600s/f) at the Parc Huron are $1800-$2300
“He described his attacker as a black man about 30 years old who stood about 6 feet, 1 inch or 6 feet, 2 inches tall. The man was wearing a white T-shirt with black stripes and black shorts.”
I really get sick and tired of being right all the time. I knew it. And to think John Derbyshire got fired from the NRO for saying the obvious about the issue. Anyway, JMM I read the article in Chicago magazine about the 3 Lake Forest teenage copycat suicides, and that was sad to read too. I think Niles is the answer. Kudos to hd.
“One thing I always find hilarious when I go into the exburbs, particularly in the south (Atlanta) is that all the communities are gated. The people in these communities are out in the middle of bumblestank suburbia like 20 miles outside of the urban core, hardly afflicted by violent or even petty crime, yet they need some big ass gate surrounding the development and in some cases, full time guard houses.”
They’re ahead of the curve, Atlanta today is what the confederates fought and died to prevent from happening. It’s going to be another Johannesburg, with those living there smartly choosing security over stupidity. Sounds like suburban Atlanta is following Sandton, S.A.
“but he said the media failed to mention the coke deals gone bad part of the story”
Because when coke deals go bad all you get is a simple assault out of it right?
“Interesting that if you read the interview, said victim attributes the lack of publicity to concern it might the upcoming parade on Sunday.”
Hmmm…..that flippin’ figures! Ha! Let the man speak.
“Because when coke deals go bad all you get is a simple assault out of it right?”
If the guy doing the beating walks away with both the product and the cash, why do more?
This slashing story is frightening and terrible. I’m pretty sure the turnout at this weekends parade will be down signicantly.
That shooting on the Mag Mile where the gangbanger shattered the other gangbangers car window and then being shot in the gut is going to hurt hotel bookings and shopping immensely.
“he people in these communities are out in the middle of bumblestank suburbia like 20 miles outside of the urban core, hardly afflicted by violent or even petty crime, yet they need some big ass gate surrounding the development and in some cases, full time guard houses.”
It’s basically to send a big F U to the urban core area that things are different outside it. And outsiders (from the urban core) aren’t welcomed to casually visit. And it’s funny my parents moved to exactly what you described. And I say kudos to them. Fvck Atlanta’s urban core they owe it nothing. And culturally I don’t see anything redeeming about it, whereas at least we have something here in Chicago.
“If the guy doing the beating walks away with both the product and the cash, why do more?”
Rarely one who is in the business of protecting and transacting in said product relies on fisticuffs for their inventory control method. If they did, it would be a short business career.
“talked with my neighborhood beat cop last year about the wave of random beatings in LP. I’m all like ‘that’s horrible’, and it was, but he said the media failed to mention the coke deals gone bad part of the story, because you know all those former frats and debs only get into Miller Lite after all. I’m just saying…”
Anybody that procures contraband from a stranger is a fvcking idiot. One of the most basic tenets of the drug/illegal wares culture is having someone vouch for the connect. That way if you get ripped off/beaten there is recourse for the one who vouched.
Although I know the yuppie blow type and most know this fact. Or at least would never deal with a random street thug in this manner. They’re not as stupid as crackheads (although any yuppie that dabbles in blow is pretty dumb overall and not long to maintain their socioeconomic status). So I’m not buying your argument.
http://www.chicagotribune.com/news/local/breaking/chi-man-beaten-robbed-in-wicker-park-20120622,0,7883725.story
Yup.
‘So I’m not buying your argument.’
– Not my argument, just info from a longtime neighborhood cop. So you can believe the Pam Zeckman version, the one after the piece about the singing cat, or someone who worked the case.
“If the guy doing the beating walks away with both the product and the cash, why do more?”
– I don’t know. Ask the old vet who was brutally choked after his attackers took his cash (the case on the news tonight… police just caught the guys). They got what they wanted (money) so why harm him? Ask the thugs Sunday school teachers, cuz according to relatives, they’re good boys.
‘ They’re not as stupid as crackheads’… referring to yuppies.
– Seriously? So some baseball cap wearing white dude who’s been drinking since the Cubs game and then proceeds to take out a couple hundred from an ATM at 2am isn’t being stupid nor acting suspicious? Nothing says ‘let’s keep the party going’ like buying an additional $200 worth of beer… at 2am. What you don’t know about stupid suburban raised frat boys now living in the city, is a lot.
“http://www.chicagotribune.com/news/local/breaking/chi-man-beaten-robbed-in-wicker-park-20120622,0,7883725.story
Yup.”
“Interesting that if you read the interview, said victim attributes the lack of publicity to concern it might the upcoming parade on Sunday.”
Ever notice that the now liberal-kosher owned Chicago Tribune likes to display white faces, prominently, every day, on Mugs on the News on its homepage? These people don’t miss a single trick.
“Fvck Atlanta’s urban core they owe it nothing. And culturally I don’t see anything redeeming about it, whereas at least we have something here in Chicago.”
Spent a lot of time there, I gather? In what parts? The non-lakefront burbs (where one can get a nice, giant house for a (relatively) modest sum) that are 45-60 minute drives from the SL/Loop/GC/LP/RN/LV/BT/etc. bubble within Chicago tend to take a beating here on CC, understandably. Elevating the burbs (if you want to call them burbs) that are 45-60 minute drives from the Midtown/VaHighlands/Druid/Decatur/etc. bubble within Atlanta thus doesn’t make a ton of sense. (Don’t feel bad. Knocking “Atlanta” for traffic and race reasons, without having actually spent time in the great areas in and around Atlanta, is something that many people throughout the midwest and northeast instinctively do, including for some time myself.)
I’ve been poking around Redfin, looking at multi-unit buildings in a couple neighborhoods in the far north side, and I’ve been amazed at the percentage of listings with offers pending. It is an interesting idea… not that everyone wants to be a landlord, but it does seem one of the less awful uses for a pile of cash these days.
“Pete (June 22, 2012, 2:25 pm)
It is definitely safe to say we are in the midst of a HUGE rental property bubble. Just look at all the new apartment towers going up, asking crazy rents. How much demand is really there for $2000/mo+ studio apartments?”
Kball,
Try West Ridge . I get good rents and three flats are selling for a song.
Let the south side burn. If the northside doesn’t go broken windows policing in a hurry its going to be the 1980s all over again.
Been there, seen that.
“not that everyone wants to be a landlord, but it does seem one of the less awful uses for a pile of cash these days.”
2-Flats are the cheapest they’ve been in decades in non-GZ hoods.
“2-Flats are the cheapest they’ve been in decades in non-GZ hoods”
If by “decades” you mean ~17 years, sure, maybe.
helmofer: “Ever notice that the now liberal-kosher owned Chicago Tribune likes to display white faces, prominently, every day, on Mugs on the News on its homepage?”
You are a racist fuck. Go away please. Society will be better without your kind polluting it.
For those interested: attendance at this weekend’s pride parade was estimated at 850k, the highest ever.
Finally, I agree that those living in the gated communities in the suburbs are ahead of the curve. As the city continues gentrifying, where do you think the gang violence is going to go? For those of you betting on it heading to currently gentrified Chicago, keep dreaming. You might see a slight uptick during this down economy when the officer count is also down, but the long term trend is clear. Crime and gangs are headed to the outskirts of the city and into the inner ring suburbs in the next couple of decades. If you inner-ringers are lucky, it’ll bypass you for further out locales, but I wouldn’t bet on it.
TftInChi, perhaps 850,000 people attended the parade and festivities on yesterday, but I’m sure many were shot and maimed.
Vlajos: “TftInChi, perhaps 850,000 people attended the parade and festivities on yesterday, but I’m sure many were shot and maimed.”
Very true. Upwards of 10%, I’d guess. LakeView is just out of control these days.
😮
TftInChi:
I agree with you re. Helmethofer and his racism, but I think we should all begin ignoring it. He does it for attention, and will stop if he doesn’t think anyone is reading it. Telling him he’s no good isn’t going to change him. He’ll just think, “Good – I’ve riled up another liberal!”
TftInChicago, you’re way off, at least 35% of parade goers were shot and/or maimed.
“You are a racist fuck. Go away please. Society will be better without your kind polluting it.”
No, you have it backwards, it’s the Trib that’s racist and they prove it every single day by their choices for “Mugs in the News” on the webpage. You have it backwards, and I love to stand up and point out racism when I see it. The Trib owners don’t think people notice, but many see right through their deceit. I stand up to deceit and am quite proud of it. I have no respect for you, by the way. You suck, loser.
Helmet you are wrong about the mugs on the trib. White mugs result in higher clickthroughs bc the demographic of the average online trib reader is white with an income prob above 50 k a year.
“Crime and gangs are headed to the outskirts of the city and into the inner ring suburbs in the next couple of decades.”
I disagree for the main reason the suburbs have held out during the declines of the past: they’re smaller and better able to severely punish crime and misbehaving kids in schools whereas the city cannot. Case in point I know a guy locked up in a county jail (not Cook) for the past five months on a drug paraphernalia charge. No way that would happen in Cook County. Just like a trickle of the most disruptive kids from CPS would find out real soon they’re not quite hacking it at Schaumburg highschool or whatever it’s called.
“I have no respect for you, by the way”
Heh. I’ve lost a racist’s respect. My oh my…I have to lie down.
On the mugs in the news, I’m convinced they look for the “sexiest” or scariest mugs they can find every day. Clicks are definitely the name of the game. Some average looking black or white teen just isn’t going to cut it. Gimmie some cracked out psychopath, a nasty looking sex offender or, if they are really lucky, the 10 mugs from a prostitution bust. Cha-ching!!
Bob: it’s all about demographics which are constantly in flux. It just takes enough people (either to the “bad” side or the “good” side) to tip the scales enough to change an area, which effects everything from access to yogurt to ability to police. Of course you are right about the situation as it stands. But let’s not forget the longer cycle of Chicago development and decline: expand with mansions on the edges, urban blight pushes out from the center devastating the area, urban renewal pushes out from the center and all that was shitty is new again. It might take a few decades longer than I predict, but it’ll happen again. The demographics have already started to shift.
Keep tearing down those projects!
Dan you are quite the character, I mean you have got to be one of the smartest idiots on the internet
Shorter Helmethofer (2): The police commit a serious error every time they arrest a person who is paler than a paper bag.
“White mugs result in higher clickthroughs bc the demographic of the average online trib reader is white with an income prob above 50 k a year.”
Yeah right, you couldn’t prove that. Why do people click-through the turnstiles for the NBA, or buy hip-hop songs off ITunes, if you believe whites are programmed as you describe?
Have you seen a Hollywood movie recently, or watched TV, or looked at 9/10ths of the covers of magazines in the supermarket? Stop acting so dull, admit you are wrong, and save your vitriol for some perceived societal issue.
“Yeah right, you couldn’t prove that. Why do people click-through the turnstiles for the NBA, or buy hip-hop songs off ITunes, if you believe whites are programmed as you describe?”
June sales were up around 18.5% over last year, though I’m finding some evidence of a data discrepancy again that may indicate this is understated. What I find more interesting though is that contract activity was up only 5.3% over last year – the smallest increase in 14 months – so look for lower sales increases going forward.
I have a more detailed discussion here: http://www.chicagonow.com/getting-real/2012/07/chicagos-fledgling-housing-recovery-may-be-losing-steam/