Someone sent in this tidbit about the housing market in northern Illinois:

There are 9 active listings in grid 77.  Out of those 9 listings 3 are short sales.
25 listings have sold in the past 400 days.  Out of those 25 sales 11 were foreclosures.
There are 3 sale pending listings.  2 are foreclosures & 1 is a short sale.
Average sale price in grid 77, your location, is $56,408.

I looked into it a bit, and these houses were selling in the $90K range just a couple years ago! In fact, one realtor listed a house in this "grid" for $109K about 1.5 years ago. And he was only $10K greedy -- not totally ridiculous.

Talk about a total collapse -- we're talking a Great Depression here!

This area is going to be Detroit in a couple years: Houses for $1,000, bulldozing entire neighborhoods and returning them to farmland, areas where the police won't enter, etc.

And Detroit lost their hospital.  We have a friend pharmacist who told us in March their hospital was no longer, only a care facility for 22(?) No hospital!