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Originally posted by Did you just call me Coltrane?
Thanks for the input, Cletus.
Well, I think (hope) my newly purchased place is relatively distinguishable (3 floors, lots of storage space). The city really didn't undergo the huge price increase like the coasts did, so hopefully it will just flatten out. Also, I plan to stay 5-7 years, so who knows where the market will be then?
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I generally agree with Cletus's comments, although I have a slightly different perspective as someone who was briefly on the north side: any place reasonably near the L on the north side in a decent neighborhood is likely to be in good shape. Chicago is a city booming in popularity and it's becoming more and more popular to live in the city itself. Everyone I talked to about where to live advocated downtown. Even the young families at my firm were moving not to the suburbs but to quieter neighborhoods in the city. Nobody wants the hour and a half commute anymore. I'm not sure the prices will continue skyrocketing in the near future, but the seem to me to be likely to stay pretty stable, as the continuing flood of people into the city offsets rising interest rates. There just isn't enough north side housing stock to be rehabed to make it go through the floor (unlike, say, Vegas).
