Changing Gears is a public media project about the future of the industrial Midwest. Each week, reporters Dan Bobkoff in Cleveland, Niala Boodhoo in Chicago and Kate Davidson in Ann Arbor cover issues of interest to the Great Lakes region. Changing Gears also sponsors public events and conversations.
There is a mixed bag of news on the housing front in our region, which keeps a close eye on home developments as an indicator of the way car sales may go.
Foreclosures are down sharply across the Great Lakes states, as well as nation wide.
RealtyTrac, which follows real estate trends nationally, said foreclosures across the country fell more than 34 percent compared with same month a year ago. In Ohio, RealtyTrac said foreclosures fell 38 percent from July 2010, and they’re down nearly 50 percent in Illinois.