By Becky Yerak
December 4, 2008
December 4, 2008
The number of foreclosures in the Chicago area in 2008 is expected to
rise nearly 40 percent to more than 53,000, a housing industry research
group said Thursday.
rise nearly 40 percent to more than 53,000, a housing industry research
group said Thursday.
Geoff Smith, vice president of Woodstock Institute, made the
prediction at an Illinois Community Investment Coalition event held at
the Federal Reserve Bank of Chicago.
He said the number of foreclosures in the six-county region —
Cook, DuPage, Kane, Lake, McHenry and Will — is expected to rise from
38,215 in 2007 to more than 53,000 in 2008.
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