Sunday, April 26, 2009
Condo Prices Go... Lower
Way back in November, 2007 I notice an ad in the Chicago Tribune real estate section for a large condominium development with the wishful thinking advertisement that "the end is here" for reductions in condo prices in River North and I blogged about it because the ad was quite striking.
Well... obviously prices have gotten FAR lower. Now that condo association, after offering to pay condo assessments for a period of time (a year, I believe) now is essentially offering a "free" bedroom - or a 2 bedroom for the price of one, if you see the sign in front of the building.
This is why I never try to "call" the bottom...