Chicago Home Sales Up for 6 Months! (and Other Good News)
Well, good news for everyone except JPMorgan CEO Jamie Dimon. Here's what's happening: Reversing consecutive weeks of mostly dismal housing news, Chicago got word this week that home sales leaped 45 percent in March compared to last year. However, median home prices continue to fall.
This marks the sixth straight month of home-sale increases for the Chicago area, but experts warn that the depressed manufacturing and construction sectors may continue to hinder a speedy housing recovery.
Other headlines that will turn your head: younger Chicagoans are buying for the "long term"; the "second city" is named second in the nation for "fun"; and JPMorgan's chief is forced to slash $1 million off the price of his Gold Coast mansion.