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The 10,135-square-foot home on Grove Street in north suburban Glencoe was built “on spec,” or without a buyer lined up in. than in U.S. The foreclosure rate on Chicago-area home loans fell to 5.96.
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and a number of technical changes will be imposed to discourage “spec ulative” bidding, a spokesman for Fanny May said. Ironically, in a separate de velopment yesterday the Fed eral Home Loan Bank.
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Construction loans nearly ground to a halt. demand,” said National Association of Home Builders chief economist David Crowe. “It is especially important for builders to be able to build enough spec.