Chicago has not reached the other side of the foreclosure crisis, a new report from the Woodstock Institute has revealed. But with new ordinances like the Cook County Land Bank Authority, the Windy City may be headed in the right direction.
year, Chicago’s six county region saw the highest year-over-year growth
in completed foreclosure auctions since the beginning of the foreclosure
crisis in 2008, according to the Woodstock Institute report.
Foreclosure auctions, which indicate the foreclosure process is
finished, grew by 73.8 percent, from 20,281 auctions in 2011 to 35,244
auctions in 2012.
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