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Originally Posted by Tom In Chicago
To my knowledge, Chicago has never truly experienced a bust in residential real estate.
After the boom in the late 1980s the commercial real estate markets crashed the downtown residential high-rise market took a hit in tandem. . . many many proposals were shelved thanks in part to the war in the Gulf and recession that followed in the early 1990s. . .
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I meant more that there has never been a residential real estate price reduction. For example, homes on the North Shore have never lost ground unlike the luxury properties on either coast. Growth has been a constant....even if the increments are small some years.
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