We live in the Chicago suburbs and everything is super expensive here. We are selling our townhouse (and loosing $ on it) and moving to Wisconsin where things are much more affordable. Lots of foreclosures in this very nice neighborhood. People were maxed out. The only way most families could afford these houses was with creative financing. The average family here cannot afford the average house. I saw this "burst" coming years ago, but it's still devastating.
We can't wait to get north and have an affordable house payment. That will make everything else tolerable. Even 3 feet of snow won't feel so bad - I hope!!
