As the economy continues to soften, the foreclosures that were initially focused more on homes that were entry-level, in dicey neighborhoods and/or on the suburban fringe continue to move upscale, in this case Hinsdale, IL. From a Reuters story:
With a pretty red-brick downtown lined with stores, good schools and a railway line to nearby Chicago, Hinsdale has been popular among wealthy doctors, lawyers and executives.
It has also seen a 37 percent jump in foreclosure filings this year, according to research firm RealtyTrac, and local data shows the average home sale price has fallen to $1.07 million from $1.15 million in September 2007...
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