In Suburbs Like Maywood, Melrose Park, Housing Prices Still Haven’t Recovered, Says Study

national housing pic.png

A Washington Post graphic showing the change in home value since 2004 in places across the United States. | Washington Post

Wednesday, May 18, 2016 || By Michael Romain 

Last month, the Washington Post published a penetrating analysis of how housing prices in the United States have fared between 2004 and 2015, a period that spans both the peak of the housing bubble and the trough of the housing bubble’s crash.

What the Post finds, unsurprisingly, is that the nature of this current housing recovery, if it can be called that in some areas, aligns with the unequal state of the larger economy.

“While a typical single-family home has gained less than 14 percent in value since 2004, homes in the most expensive neighborhoods have gained 21 percent,” the Post notes.

“Also striking is how minority neighborhoods lag in the recovery. Zip codes where blacks are the largest population group are more than twice as likely as white Zip codes to have homes now worth less than in 2004.”

To read more of the Post’s analysis here. To see how Bellwood, Broadview, Maywood and Melrose Park housing prices have fared since 2004, look below. VFP

How is your town doing?

Bellwood || Housing prices down 25% since 2004

Bellwood housing

Broadview || Housing prices down 26% since 2004

Broadview housing

Maywood || Housing prices down 41% since 2004

Maywood housing

Melrose Park || Housing prices down 22% since 2004

melrose park housing

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