Chicago’s housing prices are soaring, but unlike other major metros, they’re not setting records. – Chicago Tribune*

Chicago hasn’t broken home price records partly because the metro region’s growth slowed to a crawl over the past decade, meaning there’s less demand for housing than there would be in rapidly growing cities, said Bill Adams, senior economist for PNC.
2 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
debtsor
4 years ago

What’s not to like about Chicago? Crime, bad weather, corrupt politicians, high taxes, 200 different spoken languages, progressive politics? Why wouldn’t people want to live here?

Freddy
4 years ago
Reply to  debtsor

Home prices are soaring because of the recent frenzy of everyone trying to outbid everyone else. Lumber prices added up to $36K to purchase price for a few months but have come down by 75% or so. Less than $4.00 for a 2×4 down from $12.50. So people paid more than $36K during that time and now have buyers remorse. https://www.realtor.com/news/trends/pandemic-homebuying-remorse/ Even here in Rockford it is taking longer to sell a home and prices are being reduced. Those who bought a home the last few months will get a sticker shock when property taxes are due. A house at… Read more »

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check what you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE