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Message: <blockquote data-quote="Pbartender" data-source="post: 3211141" data-attributes="member: 7533">The far west suburbs are, in all honesty, not that much cheaper than the nearer suburbs.  You have to go out past DeKalb now to find reasonably priced houses.  Even townhouses in the Fox Valley are going for $200,000+.The answer is...  Most can't.  They take out interest only loans or balloon loans and stretch their budgets to the breaking point.  They're banking on the fact that in three or four years, they can sell the house at a profit before the big balloon payment comes due...  or refinance into a more traditional loan.  With the recent housing slump, however, a lot of people who gambled on that bet have lost out and now have to forclose.But that's a topic for anopther thread.</blockquote>