Short-term pain, long-term gain: Will new financing rules change how Chicagoans buy condos?

Benjamin Cohen, Kyle Gillespie, Mike Ferrall and Jovanka Novakovic (Getty, LinkedIn, Rate, Origin Point)Jovanka Novakovic, a luxury real estate agent with Compass in Chicago, thinks stricter financing standards for conventional loans are good for buyers. The rules force a closer look at whether a building’s condo association is fiscally sound, she told The Real Deal. But as a condo board president, she has to explain the logic to her neighbors, who are bracing for a 5 to 10 percent increase in t