Does anyone think we're entering another real estate bubble? (Chicago: mortgage, homebuyer)

[Lookout Kid]

Originally Posted by 3Series

Another item is that according to Redfin the number of homes sold as a percentage of population was higher than in Glen Ellyn for the last 3 months.

But we don't know the supply contraints etc...

It doesn't really matter to me... We're not selling our house any time soon, and don't really think a lot of Hinsdale buyers are cross-shopping Glen Ellyn anyway. I just took issue with your definition of "demand".

Tying this back to the OP: There are so many complex factors that go in to forecasting real estate, but I believe that towns like Hinsdale and the less exclusive Glen Ellyn will both fare well. People seem to want these types of towns with train stops, nice downtown areas, good schools, etc. Hinsdale is the cream of the crop out west, and the North Shore takes the crown up north. Other towns offer a similar mix of things, but perhaps compromise on others.

[Lookout Kid]

Originally Posted by holl1ngsworth

I did as well, before buying in Wheaton. Not La Grange, but Hinsdale and Clarendon Hills. We actually were under contract for a home in Clarendon but balked after the home inspection.

We were also under contract in Western Springs, but had an issue arise during inspection. We very nearly moved to Western Springs.

[holl1ngsworth]

Originally Posted by Lookout Kid

We were also under contract in Western Springs, but had an issue arise during inspection. We very nearly moved to Western Springs.

For whatever reason, I wanted to be on the right (left) side of the county line from the start.

[Justabystander]

Originally Posted by holl1ngsworth

For whatever reason, I wanted to be on the right (left) side of the county line from the start.

You really confuse me with your various posts. You talk about loving Glen Ellyn and arguing how great it is, but then talking about ending up there by default because of issues with homes in the Hinsdale general area and having lost them. You can sell Glen Ellyn until your blue in the face; most Hinsdale people would never think about GE even though it is admittedly a lovely place because of the two great things about Hinsdale; location and schools. I have now been here 12 years, and have seen the town improve, and love the commute to the city (and everywhere else) and cannot be happier about the town. Those were non-negotiable issues. Another is your incredible tax rate; yes I paid more, but pay less in taxes than GE or Wheaton. I even think the political scene in Hinsdale is more to my liking; moderate Republican / conservative democrat versus far right Republican a stones throw from Wheaton College. There are far more intangibles than price going on with purchasing in Hinsdale; the many attributes that affect your day to day are the reason that some people look there first and then go elsewhere when other factors come into play, like housing costs.

[holl1ngsworth]

Originally Posted by Justabystander

You really confuse me with your various posts. You talk about loving Glen Ellyn and arguing how great it is, but then talking about ending up there by default because of issues with homes in the Hinsdale general area and having lost them. You can sell Glen Ellyn until your blue in the face; most Hinsdale people would never think about GE even though it is admittedly a lovely place because of the two great things about Hinsdale; location and schools. I have now been here 12 years, and have seen the town improve, and love the commute to the city (and everywhere else) and cannot be happier about the town. Those were non-negotiable issues. Another is your incredible tax rate; yes I paid more, but pay less in taxes than GE or Wheaton. I even think the political scene in Hinsdale is more to my liking; moderate Republican / conservative democrat versus far right Republican a stones throw from Wheaton College. There are far more intangibles than price going on with purchasing in Hinsdale; the many attributes that affect your day to day are the reason that some people look there first and then go elsewhere when other factors come into play, like housing costs.

You got the wrong guy, man. Although I do like the intangibles of Glen Ellyn a lot more than Hinsdale.

[JJski]

We decided LG over Hinsdale...

[pvande55]

This cartoon exaggerates it, but the market is getting stronger.
http://www.chicagobusiness.com/artic...wd-around-here

[My Kind Of Town]

Is it time to worry about another housing bubble? - May. 4, 2015

This article reinforces the position taken in my previous posts. While some US cities are nearing or at bubble levels (SF, Seattle, etc.), Chicagoland is certainly NOT one of them.

[Lookout Kid]

Originally Posted by Justabystander

You really confuse me with your various posts. You talk about loving Glen Ellyn and arguing how great it is, but then talking about ending up there by default because of issues with homes in the Hinsdale general area and having lost them. You can sell Glen Ellyn until your blue in the face; most Hinsdale people would never think about GE even though it is admittedly a lovely place because of the two great things about Hinsdale; location and schools. I have now been here 12 years, and have seen the town improve, and love the commute to the city (and everywhere else) and cannot be happier about the town. Those were non-negotiable issues. Another is your incredible tax rate; yes I paid more, but pay less in taxes than GE or Wheaton. I even think the political scene in Hinsdale is more to my liking; moderate Republican / conservative democrat versus far right Republican a stones throw from Wheaton College. There are far more intangibles than price going on with purchasing in Hinsdale; the many attributes that affect your day to day are the reason that some people look there first and then go elsewhere when other factors come into play, like housing costs.

I think he is combining the opinions and stories of multiple posters, but since I live in Glen Ellyn...

I looked at several houses in Hinsdale that were total crap holes, and didn't feel it was worth the sacrifice for the marginal improvements in schools and travel time to downtown Chicago (where I no longer work anyway). I did not put offers on any houses in Hinsdale--just La Grange and Western Springs. I actually preferred La Grange to Hinsdale AND Western Springs, and still do. I do not feel that Hinsdale is currently worth the inflated price compared to other western suburbs. You are free to disagree. If I made a million dollars a year I may feel differently, as the sacrifices would be far less obvious. And if I had bought in to Hinsdale 20 years ago when prices were much lower, I may also feel differently.

Also, I have pointed out elsewhere that Milton Township (which includes all of Glen Ellyn and Wheaton) went 55% Romney/45% Obama in the 2012 election, when Obama's shiny newness had worn off and no conservative would have voted for him. So while the area has a slight conservative bend, and there are surely some ultra-right Bible thumpers associated with Wheaton College, the area is hardly overwhelmingly conservative. In fact, I seem to know mostly Democrats.

All of DuPage county is starting to move to the left, in spite of it's long-held reputation as a GOP stronghold.

http://patch.com/illinois/glenellyn/...regrd62062c378

[Lookout Kid]

Originally Posted by My Kind Of Town

Is it time to worry about another housing bubble? - May. 4, 2015

This article reinforces the position taken in my previous posts. While some US cities are nearing or at bubble levels (SF, Seattle, etc.), Chicagoland is certainly NOT one of them.

Interesting that they changed the headline to "Here's what's driving up housing prices", eliminating all references to the word "bubble".