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      10-03-2019, 02:07 PM   #39
ntg44's Avatar

Drives: 2017 M3 6MT
Join Date: Aug 2018
Location: Chicago

iTrader: (3)

I actually wanted to bring up a thread just like this a few months ago after being really frustrated with the prices and selection in Chicago SW suburbs. But the selection is getting better now compared to beginning of this year, and I'm starting to see these insanely priced houses stay on the market for far longer than they should.

Biggest enemy in Crook county is the property taxes. Everyone is abandoning their multi million dollar mansions because they're sick of paying 40-60k in real estate taxes.

I don't know about the rest of the country, but here, I don't doubt for a second that another bubble is about to burst. It may not be as big as 10 years ago, but 4 million dollar+ houses in the wealthiest neighborhoods are selling for low 2 millions, and there's way too many of these on the market for it to be a fluke - the neighborhood is so wealthy. Just need to wait it out for the middle class homes to follow.