High-End Homes Frozen Out of Budding Housing Rebound

MH
High-End Homes Frozen Out of Budding Housing Rebound
BY NICK TIMIRAOS AND JAMES R. HAGERTY
Wall Street Journal

KENILWORTH, Ill. — Housing is fast dividing into two markets: Sales of low- and moderately priced homes are picking up and values have stopped falling in some parts of the nation. But on the upper end, sales remain mired in a deep slump and price declines are expected to accelerate.

Signs of the divide are visible across the country, including in suburban Chicago. In middle-class Schaumburg, Ill., which had a median income of $65,000 in 2007, sales were up 41% in June from the depressed level of a year earlier and bidding wars have broken out on some properties.

For real estate and homes along the Crystal Coast visit Hitchcock Realty

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