Chicago "Resilient" in Foreclosure Crisis

By Camela Furry in News on Aug 20, 2009 4:40PM

According to a report that compared the responses of six metropolitan areas to the foreclosure crisis, Chicago was among one of the "more resilient metros in the study." The report summarized in Chi Town Daily News, classified Chicago as a "mixed-market metro" meaning it has both weak and strong real-estate markets, and attributes Chicago's ability to bounce back to "regulations against predatory lending, a generous amount of time between foreclosure filings and sales, and collaboration between private and public organizations in Chicago helped prevent thousands of residents from losing their homes."