Move to Homewood to raise kids and stay for 20 years, good or bad idea?

[john.connors]

I wonder how much Illinois overall will decline. The quality of the problems is staggering, read big problems compared to other states, and I see a second Detroit happen in the next 10 to 20 years.

[Daze55]

Originally Posted by john.connors

I wonder how much Illinois overall will decline. The quality of the problems is staggering, read big problems compared to other states, and I see a second Detroit happen in the next 10 to 20 years.

I don't think Chicago could become a second Detroit, as Detroit only had the auto industry. Chicago has so much more than Detroit ever did. However, I can picture a somewhat significant decline in Chicago unless Illinois fixes itself. I picture NW Indiana and Southern Wisconsin spontaneously growing from people fleeing Illinois corruption and taxes. The Chicago suburbs I believe will be affected more than Chicago itself. But, hopefully Illinois can redeem itself in the coming years.

[flamadiddle]

I was in Homewood not too long ago and it's still a nice little town. Will it stay that way? Hard to say. It's part of the South Suburbs, which have been in decline for years. I can tell you one thing, I know the police chief of Homewood and he's a top notch guy and I can guarantee that he'll do everything within his power to keep Homewood a safe and great place to live in the future.

[Denverella]

I currently reside in Homewood and the foreclosures are a real problem. I do not see the decline that everyone is talking about though. We did lose a few businesses downtown but we already have a martini bar, the South Suburban Food Co-op, Bottle and Bottega and a new salon and spa coming in to replace them. We also had a bat manufacturing company, Walmart, and Portillos either recently open or are coming soon.

Another concern many people have is about the high school. I hope they consider the International Baccalaureate and Gifted Academy offered at HF. We have students go to Ivy League universities every year from HF. We also have a park district and library that caters to the homeschooling community which is fairly large here. I don't hear many complaints about our elementary schools.

I don't know what to say about the concerns people have about the number of minorities moving in. I do hear about them but I also know of many people who grew up here who have come back to raise their children. They don't seem to mind.

I'm not saying Homewood is the best suburb to live in but it is a real option for those who want to be close to the city, part of a tight community with a lot to offer families and decent schools. We also have a great library and park district.

Oh and our police really are no joke. I always tell my husband that you can always spot a Homewood resident because they are likely going the speed limit..lol

[oldhousegirl]

Originally Posted by Denverella

I currently reside in Homewood and the foreclosures are a real problem. I do not see the decline that everyone is talking about though. We did lose a few businesses downtown but we already have a martini bar, the South Suburban Food Co-op, Bottle and Bottega and a new salon and spa coming in to replace them. We also had a bat manufacturing company, Walmart, and Portillos either recently open or are coming soon.

Another concern many people have is about the high school. I hope they consider the International Baccalaureate and Gifted Academy offered at HF. We have students go to Ivy League universities every year from HF. We also have a park district and library that caters to the homeschooling community which is fairly large here. I don't hear many complaints about our elementary schools.

I don't know what to say about the concerns people have about the number of minorities moving in. I do hear about them but I also know of many people who grew up here who have come back to raise their children. They don't seem to mind.

I'm not saying Homewood is the best suburb to live in but it is a real option for those who want to be close to the city, part of a tight community with a lot to offer families and decent schools. We also have a great library and park district.

Oh and our police really are no joke. I always tell my husband that you can always spot a Homewood resident because they are likely going the speed limit..lol

You are so right about that!!! Used to live in Flossmoor (which I loved) and learned that lesson the hard way. I loved living in the HF area. The best neighbors, the best events and activities for kids and families, the best libraries, my lovely tree canopied street...*sigh*

What I didn't love was the water in the basement/lower level. Ugh! As well as the simply outrageous property taxes. But that's another story .

[chicagobear]

I see that Homewood-Flossmoor High School is only 21.3% white. There are not many white parents who would send their children to a school where they are a relatively small minority like that, and I think that limits potential buyers of homes there.

[LIS123]

Originally Posted by john.connors

So I checked out Homewood and Flossmore. Flossmore is in a school district where only a grade 4/10 mid school is. So I checked that off because my daughter is supposed to go to a at least 7/10 school. Her education is my highest priority in life.

Homewood has decent schools. It is in a recession since 2007 and has over 60% foreclosures of all houses on the market. Taxes are good, crime is low and everyone is on the move to get out which makes for good deals on real estate.

So anything bad about Homewood? Im just worried that the schools will go bad too, if all the people move out.

My family and I used to live in the area in the 80s, when we moved to NW Indiana. That area (on the IL side) has declined significantly and the decline was quite rapid.

I would be very reluctant to purchase a home in Homewood or Flossmoor at this point in time.

The 1st response, from Chet, is correct: the chances of continued decline are 100% and the chances of improvement are 0%.

Your home value will decrease (in nominal and inflation-adjusted terms) and your RE taxes will continue to rise.

If your purchase a home in Homewood, you'd be buying an depreciating asset with increasing carrying costs over time. Sounds like a losing proposition to me.