On a year over year basis Chicago area single family home prices still rose at a healthy clip – 7.7% to be exact – but that’s way down from the peak of 13.1% back in June and almost at a 2 year low. But what is interesting is that home prices in the rest of the country, which rose at a much faster rate over the last couple of years, are now falling faster than the Chicago area. Consequently, Chicago now ranks 7th out of 20 metro areas in terms of annual appreciation.
This can’t be. How can prices of real estate keep going up in Chicago when we are told the city is too dangerous and no one wants to live there. Who’s buying all these properties when everyone is leaving in “droves”? Maybe all the renters decided to invest in Chicago and stop throwing money away on rent? No, that can’t be as rents in Chicago are also through the roof. It’s a conundrum alright. Oh man, this good news will no doubt upset the doom and gloom crowd. I remember one commenter in particular stating that Chicago real estate values… Read more »
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
This can’t be. How can prices of real estate keep going up in Chicago when we are told the city is too dangerous and no one wants to live there. Who’s buying all these properties when everyone is leaving in “droves”? Maybe all the renters decided to invest in Chicago and stop throwing money away on rent? No, that can’t be as rents in Chicago are also through the roof. It’s a conundrum alright. Oh man, this good news will no doubt upset the doom and gloom crowd. I remember one commenter in particular stating that Chicago real estate values… Read more »