November 12th, 2008 05:00 AM - Nearly 40 percent of homeowners in the Chicago metropolitan area who bought at the peak of the housing market in 2006 now owe more than their home is worth. That third-quarter number is up slightly from the second-quarter report from real estate data company Zillow Inc. Home values fell 8.5 percent from a year earlier to $237,504, worsening since the second quarter report, which showed values dropped 7.3 percent year-over-year.
BY FRANCINE KNOWLES Business Reporter/fknowles@suntimes.com
Click here to read the article...