I was looking at Case-Schiller data and noticed that the prices bounced off of a long-term trend line that's the average growth. So there was this exponential spike and an exponential crash. Question I have is: Because of all the ARM resets coming up, will Chicago prices drop further? How do I calculate how much impact the the ARM resets will have on the local market? I'm looking to buy a home within a 40-min commute to downtown, somewhere between 150 and 250k, the cheaper the better. Some questions: i) Should I go around low-balling everyone, and aggressively target bank-owned properties? ii) Is it worth becoming a realtor and taking the exam just to get access to the local data? iii) Should I avoid the summer buying cycle? iv) What are some essential books I should read? v) In the suburbs, I've read certain areas are variable-rate in terms of property taxes. Online forums are saying crazy numbers like 5-8% in some areas. I'm not looking to buy a home as an investment, I'm looking to buy a home I can pay off quickly in the event of job loss. I want this home to become a base or platform from which I can tinker with business and money-making ideas without the fear of a heavy monthly payment.