Population above 200K - just because I assumed that they will survive recessions better then suburbs. 2.

Before the recession, that was unheard of.Many of those workers have left the State, and found Jobs at other Casinos in Pa., Florida, etc.

:)While I agree that there are some major challenges that both the housing market and the U.S. economy as a whole faces over the next 10 years (and if not solved will result in a recession larger than the one we're currently in), I think we're going to see a recovery over the next 24-36 months.I attribute the October drop in the market to a couple things: seasonal downturn, expiration of various tax credits, increase in new housing starts in some areas, etc.

I wanted to invest property but it seems like the prices has gone up way too high now is it too late to buy property now and just wait for the another recession?

Brad,Thank you for the feedback.I could get traditional financing but current market conditions seem to show that residential real estate price appreciation for most Metro areas is near their pre-great-recession peak.

I don't operate in IL, but am aware that many states (including NC) created similar legislation between 2007 (when IL did) and 2009 when good ol' REI were taking advantage of people in the great recession.

I'm also doing some research in this town how the rental market performed when the recession came through and what the over all occupancy rate was around that time as well as in the last five years.

And Boy have we been killing it in Charleston SC  the last four years.. that market is as strong as any in the country.. so like with all things I think it regional to a pretty big extent and regional within the state.Rural Oregon since the spotted owl and fishing died has been in recession depression status for 20 plus years now... but Portlandia is rockin and we crush it here..

Take loads of pictures of your ceilings to make sure all recessed cans are located before plastering of the ceilings start.

After the great recession, FNMA and FMCC were about 100%... they maintained liquidity virtually single handedly after Lehman Brothers and other investment banks (major firms securitizing home loans) collapsed.