The Ribbon Has Been Cut!

Chicago's Trump Tower (official name: Trump Tower International) has celebrated the completion of its hotel; the condo floors are still under construction. Check out this video of the ribbon-cutting ceremony. The Trump tour is here -- fun stuff!

Another Look at Chicago Real Estate

Check out the latest article by Dennis Rodkin in "Chicago Dealestate." It gives both a helpful overview and specific regional insight into the latest figures. Informative for professionals and laypeople alike. As you will see, the Gold Coast area has increased over 10% since last year. As Dennis says, don’t heed the Chicken Littles until you are fully informed!!

Commute? No Thanks

Suburban properties are dropping in value at a much higher rate than urban pads. In a buyers' market, it turns out buyers don't want to be out in the sticks! The old adage "drive until you qualify" is facing modification as consumers realize that commuting brings its own costs, in money (e.g. gas) as well as time. Thus the new formula: "The longer the commute, the steeper the drop in prices." The good news is for urban centers, which are continuing to see their property values rise. Listen to the story here.

Time to Rebalance?

Check out these investment tips from the master of Yale's endowment, who has a few ideas about how to keep your cool even in bad times.

Money=Happiness?

For years, the Easterlin paradox has been the received wisdom in economics: that while poverty increases unhappiness, a higher income does not guarantee contentment once basic needs have been met. Now the NY Times reports on a new study that questions this premise. In sum:

"Economic growth, by itself, certainly isn’t enough to guarantee people’s well-being — [...]
But it would be a mistake to take this argument too far. The fact remains that economic growth doesn’t just make countries richer in superficially materialistic ways."

As examples, the author cites scientific research and access to travel, and concludes: "At a time when the American economy seems to have fallen into recession and most families’ incomes have been stagnant for almost a decade, it’s good to be reminded of why we should care."

Life Laundry

There is no time like the present -- but especially if you are selling your house or contemplating a move -- for getting organized. Check out these recommendations from Slate on where to go for advice.