Live music, the aromas of favorite foods cooking, the roar and sweat and jostling of the crowd -- is this something you want in your front yard?

If you are between 22 and 27, chances are the answer is yes.

"It's a cherry on top when I am marketing my properties," said Preston Kendall, 27, who lives on North Lincoln, right above where the Taste of Lincoln Avenue takes place every year. He also owns a couple of other units in the building, which are popular with renters who are young and single.

But for Kendall himself, it's another story. He and his wife and their two babies have left town during the festival for three years in a row now.

"Nothing good can come of it," he said. "There's the noise, and the accessibility. Our door opens right onto the back of a vendor tent. You can't get a stroller through, and we are always lugging a lot of gear."

When he and his wife first moved in five years ago, they loved being close to the action. "Our friends would come out of the woodwork to join us," he said.

Now he has passed that torch on to his younger brother Connor, 25, who is still in the party mode and owns a condo just one door away. He doesn't think he paid more for his primo party spot, but it was "a bonus," he said.

A couple of weeks ago, during the Taste of Lincoln Avenue, friends of Connor and his roommate started showing up in the morning. Revelers came and went all day long. The guys have a balcony overlooking Lincoln Avenue and have access to the rooftop space in back.

"It's such a fun thing for us," said Connor, who has an enthusiasm for wild parties that only the very young can muster.

He doesn't mind the expense, or the work involved. Before party day, he and his roommate party-proofed their entire condo, covering the floor with plastic and moving furniture out of the way. They brought in a big supply of alcohol, since trying to get down the street to the liquor store mid-party is nearly impossible. And they and their neighbors hired security guards to keep uninvited guests off the roof.

After the party, the duo had a big cleanup job on the roof, which was trashed with spilled drinks, cigarette butts and dirt.

"We had to clean it ourselves," Preston said, "but we are pretty laid back. We understand."

For a list of upcoming street festivals that you can enjoy without living above them, see the Centerstage festival guide.

Various reports in the past week sound like the housing industry is starting to rebound. From sales reports to early price stabilization, to mortgage rates and pending sales, it all sounds like the proverbial "green shoots" that indicate recovery.

Why then, doesn't it feel like a recovery?

Perhaps because we can only recognize a bubble or a burst bubble after the fact.

Perhaps because this housing bubble may be due to the temporary $8,000 tax credit and not a real recovery.

Perhaps because there is too much job instability and too much inventory of unsold homes for there to be a sudden turnaround.

Or maybe this is the beginning of a slow, lurching recovery with very little "bubble" to it.

My biggest hope is that if housing and the secondary mortgage market cease to look like surefire investments, investors will cease to bet on the "greater fool" theory. (That's the theory that even if you foolishly paid too much for something, a bigger fool will come along and buy it for even more.)

Maybe then we could let housing be housing. That can only be good news for those of us who just want to be able to afford to buy a house to live in.

Several weeks ago we ran a notice about a photo contest for people to nominate their favorite place.

Sponsored by the Metropolitan Planning Council, the contest entries are in and now you have a chance to vote for your favorites.

Some of the photography is spectacular, but if I can bring myself to pick one of the places -- and that would be difficult -- I'm going to try to look beyond the picture itself and focus on how people interact with the space. Does it make you look, touch, sniff the air (in a good way)? Does it invite you to sit or walk or play? Does it inspire relaxation, awe, conversation?

While you cannot beat Millennium Park for its innovative charm or Naperville's riverwalk for its graceful integration of nature with the built environment, it was the photos of some less well known places that drew my attention.

One of my favorite photos is of the Hoxie Prairie Garden on the city's Southeast Side. It's a simple space, unadorned by great works of art, and doesn't draw tourists by the thousands. But it's easy to see that it is a special, restful place for the people in the photo.

Another one I like is the Awakening Muse sculpture on the grounds of the Robert O. Atcher Municipal Center in Schaumburg. Two little girls play on the features of the muse as she reaches out of the ground.

Enjoy the pictures and cast your vote at Placemakingchicago.com.

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