EVERGREEN PARK:
Home fires suspicious
A home under construction in Evergreen Park was burned down over the weekend in a suspicious fire -- the latest of several such blazes in the southwest suburb. Last summer, several other homes under construction in Evergreen Park were set on fire, officials said. The latest fire, which occurred early Sunday, also damaged two adjacent homes.
I think we will see allot more of this stuff in the coming years. In an earlier post, I wrote about Naperville Fires. Seems like they are spreading!
6 comments:
hey, this is the time to do it. before comps go down too much.
Yeah, we will see a lot more of these fires. Maybe contractors shouldn't be building anything new when existing homes aren't even selling.
Also, maybe we should allot more resources to dealing with all of these soon-to-be fires.
These suspicious fires become very frequent in economic and real estate downturns.
If local authorities are not aggressively investigating the developers involved, then there is surely a lot of collusion and corruption on the part of the authorities.
I was living in the Lakeview nabe in the bust of 1992, and was shocked at the sudden spike in arson involving really fine, high-rent properties. When I went to rent, the very first thing I wanted to know was how long the owners had owned the building. I was afraid to rent in something recently acquired at the peak of real estate values- didn't want to be living there when the owner decided he just couldn't handle the negative cash flow anymore.
Hey Stuck,
Did you see this insane, unsubstantiated comment by Zekass on Yo?
"Jeremy's wringing his hands about how hard it is for people to "cobble together" a down payment without seeming to be aware how many people agonize over whether or not to pay cash for the unit, or how to thank their parents for the graduation gift of a new condo."
I know the only reason you're holding off buying is because you can't decide whether or not you want to pay cash for a $350,000 1 bed condo.
I got $250 bucks from my parents for graduation, how 'bout you?
The big question is why would you sink 5-20% of say $300,000 ($15,000-60,000) of your hard earned cash in to a depreciating asset?
That money is gone!
Oh, and btw, I LOVE ragging on YoChicago.com!!!
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