Illinois Housing

Business
8:41 am
Thu January 9, 2014

One-Third Of Illinois Homes "Underwater"

A third of Illinois homes are "underwater".
Credit debt.org

A new report says almost one-third of Illinois homes are ``deeply underwater'' meaning that they're worth at least 25 percent less than what's owed on the loans. 

The report released Thursday by Irvine, Calif.-based RealtyTrac says that represents almost 775,000 Illinois homes. The report is based on data from December.  

Only Nevada and Florida fare worse, with 38 percent and 34 percent of homes deeply underwater, respectively. 

But the report has some good news.

Nationally, the percentage of deeply underwater homes is falling.  

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Illinois Issues
12:00 am
Tue May 1, 2007

Displaced: Tougher rules for Chicago's subsidized housing aim to sweep social problems away

The social ills that once plagued Chicago public housing can be eliminated with a few swings of a wrecking ball. Drug dealing, gang shootings, economic isolation and squalor will be displaced as housing projects throughout the city are torn down.

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