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Wednesday, November 29, 2006

The Aura of Aurora Real Estate

Real estate in Illinois continues to grow and prosper. Notoriously hot markets such as California, Boston, and South Florida are experiencing ripples of trouble resulting from a likely over zealous Mortgage industry promoting home sales to buyers that cannot afford the homes they have taken on backed with credit. However, in markets where the real estate is still growing for fundamentally sound reasons home buyers are going to make out like bandits.

I visited Illinois over the recent holidays and I can see the real estate movement there starting to hit with a targeted precision that has been refined in some of the other markets I mentioned. They are filling in the farm land rapidly with some great developments.

There was a report on Aurora Real Estate that helped give me some additional perspective and I'm becoming more and more convinced that real estate in Illinois is still increasing. The safe money is in the immediate burbs around Chicago, but I suspect that those burbs are going to grow down to Peoria and Bloomington and Champagne and Springfield and connect with the burbs moving Northward from St Louis.

It is a very good time to invest in real estate in this particular market. Things may be tanking in California but California does not drive real estate markets in the Midwest, especially markets supported by Chicago and St Louis, which make especially comforting hedges. With population growth estimates of 100 million more people in the US over the next 15-25 years the midwest is a safe bet for steady growth especially in between population centers like Chicago and St Louis.