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Home Prices Forecast to Rise Sharply by 2018

By Paul TooherMedian housing prices in the Chicago metro area are forecast to surge 29 percent by 2018, according to a new report issued by The Demand Institute, a non-advocacy, non-profit organization jointly operated by The Conference Board and Nielsen. To produce its report, the Institute says it conducted an economic analysis of 2,200 cities, towns, and villages that are home to half the population of the U.S., coupled with in-depth interviews with the heads of 10,000 U.S. households. The report found that a large proportion of the nation’s housing wealth is concentrated in a small proportion of American cities and towns. Of the 2,200 communities surveyed, the largest 10 percent of metro areas held 52 percent of the nation’s total

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