Orphe Divounguy: Chicago’s great shrinking continues – Crain’s*

Orphe Divounguy, senior economist at Zillow Group: "Even a broken clock is right twice a day. Unfortunately, the prophets of doom may have finally gotten one right. While I was hopeful for a Chicago turnaround and had remained very optimistic about the metro's economic prospects, the most recent data confirmed my worst fears. It seems Chicago's population problems will continue, at least for the foreseeable future.
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Where's Mine ???
2 years ago

Orphe’s got it wrong when he states: “But while rent growth continued to cool nationwide, rent disinflation in Chicago stalled — not because of relatively higher demand for housing, but because Chicago continues to lag the rest of the country when it comes to building new housing.” When in fact rents in Chicago area going way up because we are building NOTHING compared to a Florida or Texas, for example, where rents are falling because they have been slamming out mountains of apartments, homes for rent, and new homes with booming demand for years. Here’s a redfin article from April… Read more »

Last edited 2 years ago by Where's Mine ???

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