Newsviews: Uneven recovery from housing crash

CHICAGO (WLS) -- It's been about eight years since the housing bubble burst. The market has recovered, but it's been uneven.

Many homeowners in the Chicago area are still underwater, owing more than their homes are worth. In fact, some of the highest rates of owners who are underwater or in foreclosure are here in Chicago.

The Institute for Housing Studies at DePaul recently found that home prices in the Englewood/Grand Crossing neighborhoods as well as South Chicago/Pullman are still more than 50-percent below they were at the market peak.

The non-profit neighborhood housing services of Chicago is trying to help homeowners who are struggling. But some of the programs available will expire at the end of the year.

With more on that, Kristin Faust president of Neighborhood Housing Services and Wanda Collins the manager of Homeownership Services, sat down with ABC7.

For more information on Neighborhood Housing Services Chicago visit www.nhschicago.org or call: 773-329-4220

WATCH THE REST OF THE INTERVIEW ON ABC 7

It's been about eight years since the housing bubble burst. The market has recovered, but it's been uneven.