McHenry County Homeowners Flounder While Construction Activity Dips

McHenry County homeowners pay the 29th highest real estate taxes among all counties in the United States, while Illinois is first or second among all 50 states in property tax levels. Nearly one in five Illinois homeowners owes 25% more on the mortgage than their house is worth, according to RealtyTrac. Only Nevada has a higher percentage of seriously underwater housing.

According to the Heartland Realtor Organization, 20% of home sales in McHenry County are either foreclosures or short sales. Meanwhile, U. S. construction spending fell 0.2% from November to December 2016, though nationwide housing construction, including apartments and single family homes, was up half a percent. Commercial construction was flat, while government spending on construction fell 1.7%.