Real Estate Prices in Chicagoland at lowest point since housing bubble burst

[realchaos1]

I'm an IT guy that works closely with a real estate company. What you speak is Chinese to me, it sounds like science and it's fascinating.

[MaryWallaceRealtor]

Experts have been saying that the market in Chicagoland should bottom out in the next year or two, but that we can expect values to drop another 5%. After we bottom out, then the market is expected to stabilize for another 2 years, then we should start to see normal increases in value which are 2-4% per year. I suggest that anyone buying now should plan to hold onto their property for at least 5-10 yrs because that is when I think the market will have recovered.

[jvolstad]

Well if a Realtor says now is a good time to buy, it must be. I like the part about helping sellers rent out their house. So if I buy and then have to sell a few years later, will I too have to become a landlord?