Lissner's real estate forecast for 2006

The guru of Chicago real estate trends, Gail Lissner, gave her annual forecast for the coming year at a Chicago Association of Realtors forum earlier this week. The highlights? Developers may well start doing deals with lenders to lock in more favorable interest rates for buyers next year as rates start slowing rising, says Lissner, of housing analyst Appraisal Research Counselors. Watch out for more office buildings to convert to condos in the Loop area, she predicts. And we’ll likely see less highrise construction at the low end of the market. Construction costs are rising, so developers will focus on low- and mid-rise buildings at that end of the market, but overall maintain a strong presence at the high-end of the market, Lissner says.

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