Lake Forest Business Briefs
Updated: January 14, 2013 2:36PM
Baytree Bank survey
Results of the Fall 2012 Baytree Barometer suggest that respondents are not only feeling optimistic about current and future economic conditions on the North Shore, they are bullish on the local housing market. Recent economic challenges have not impacted overall satisfaction with educational choices for children on the North Shore; however, many area charitable organizations are feeling the pinch.
Banking at Baytree National Bank & Trust allowed respondents to direct an aggregate of over $1,400 in donations to one of four North Shore charitable organizations, as Baytree National Bank & Trust donated $5 to the organization selected by each respondent.
Overall, respondents felt that in general the North Shore economy rated much higher than the Chicago area economy. Whereas most respondents rated the Chicago economy as fair, and more rated the Chicago area economy as poor than good, nearly four in 10 rated the North Shore economy as good or very good, and only one in 20 rated the North Shore economy as poor. One in three respondents felt that North Shore economic conditions were better today than last year at this time, while less than one in 10 felt that economic conditions were worse.
One in two respondents feel that economic conditions on the North Shore will be better 12 months from now than today, while only one in 20 feels that conditions will be worse.
When asked whether they thought North Shore area home prices would increase or decrease over the next 12 months, over half suggested they would increase, and over 40 percent indicated they would remain the same. Less than one in a dozen respondents felt area home prices would decrease over the next year. When asked why they felt prices would increase, respondents indicated that the increasing strength of the economy and the strong underlying fundamentals of the local housing markets were key factors supporting their opinions.
Not all respondents were optimistic; among the minority who felt that housing prices would decline, there was a definite sentiment that the overall economy remained pointed in the wrong direction.
Satisfaction with Educational Choices Among respondents who lived on the North Shore, satisfaction with educational choices for children was very high, with only one in 10 indicating a lack of satisfaction with such choices. When asked to cite reasons underlying their satisfaction, respondents repeatedly cited high test scores, strong funding, teacher quality, college acceptances and the rankings of area schools.
Among those not satisfied with the educational choices, the main areas of concern seemed to include teacher labor actions, variability in educational quality, and lack of academic rigor.