Home | Business News | Browse by Publication | C | Crain's Chicago Business

SECOND HOME, SECOND THOUGHTS; From Green Lake to New Buffalo, sellers sweat, buyers balk amid worst housing market in decades.

Publication: Crain's Chicago Business
Publication Date: 13-JUL-09 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Byline: H. LEE MURPHY

You can get away to your summer home in Harbor Country, but you can't escape the depressed real estate market.

Like a cold and rainy midsummer weekend, the lousy market for second homes is darkening the mood of many Chicago-area residents with properties in southwest Michigan and in Door County and Lake Geneva, Wis., popular summer destinations where home values have plunged 25% or more. Even after aggressive price-cutting, houses are sitting.

It's a problem afflicting homeowners throughout the area, but more so in nearby vacation spots, where demand for residential property tends to be more sensitive to economic swings. People don't need a second home, and many decide they can live without one when times get tough.

That's...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from Crain's Chicago Business
Museum move stalls out; Fundraising falters for controversial kids' pl..., July 13, 2009
7 new proposals to keep an eye on., July 13, 2009
Fast crowd flocks to vintage course; Something for everyone-and some q..., July 13, 2009
On the move.(BCS Financial Corp. to appoint Matthew T. Brannigan as se..., July 13, 2009
EDIFICE COMPLEX.(Chicago Children's Museum )(Brief article), July 13, 2009

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.