Archive for May 2019

Despite New Tax Law Buying A Home In Chicago Area Still Better Than Renting

Despite New Tax Law Buying A Home In Chicago Area Still Better Than Renting
Back in February I posted on how the new tax law would affect the rent vs. buy decision. However, I got to thinking that it might be instructive to work through a real example rather than just pontificate from an ivory tower. I was actually a little surprised by the result. Before I dive into... Read more »

Case Shiller: Chicago Area Home Price Appreciation Slows To 3 Year Low

Case Shiller: Chicago Area Home Price Appreciation Slows To 3 Year Low
Dow Jones S&P CoreLogic released the March Case Shiller home price indices this morning and they show that home price gains across the nation continue to slow down. In particular, the Case Shiller Chicago area index for single family homes in March resulted in the lowest year over year gain in 37 months at 1.8%.... Read more »

Who Wins, Who Loses In Chicago's Condo Deconversions?

Who Wins, Who Loses In Chicago's Condo Deconversions?
About a year ago I wrote about the Chicago condo deconversion boom and how these deals are not necessarily good for all owners. The developer puts an offer out for the entire building and that offer is allocated among the units based upon their ownership interest, which is often largely determined by square footage and... Read more »
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What Exactly Is The Problem With The Lincoln Yards TIF?

What Exactly Is The Problem With The Lincoln Yards TIF?
It’s been more than 11 years since I first posted about the absurdity of a steel plant located in Lincoln Park: Why Finkl & Sons Is In Lincoln Park. So I was pretty happy when word first got out that Sterling Bay was going to put something more logical on that prime real estate. Of... Read more »

Chicago Foreclosure Activity Didn't Improve Much Last Month

Chicago Foreclosure Activity Didn't Improve Much Last Month
Data released today by ATTOM Data Solutions, parent company of RealtyTrac, shows that Chicago’s foreclosure activity didn’t improve much in April compared to last year – down only 6.0% – and actually rose 13% from March. You can see the history graphed below and it’s fairly obvious that the month to month variations are pretty... Read more »

Where Does Chicago's TIF Money Go?

Where Does Chicago's TIF Money Go?
A couple of weeks ago I provided an overview of how Chicago’s TIFs work – or at least how they are supposed to work. At the time I was unable to find a source of information on exactly how the money was being spent. However, upon further investigation I did find it and the accounting... Read more »
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Chicago Real Estate Market Update: Lowest Home Sales Drop In 6 Months

Chicago Real Estate Market Update: Lowest Home Sales Drop In 6 Months
Good news! Chicago home sales declined by 3.5% in April from the previous year. Why is that good news? Because that’s the smallest decline in 6 months for the Chicago real estate market. But it is the 6th month in a row that sales were down. The graph below shows Chicago’s historic monthly home sales... Read more »

Chicago Affordable Housing Requirements Make Homes Less Affordable

Chicago Affordable Housing Requirements Make Homes Less Affordable
Well, I knew it had to be true. On several occasions I’ve posted on how Chicago’s affordable housing requirements most likely just end up exacerbating the problem, as in this post from 1 1/2 years ago: Chicago’s Affordable Housing Quagmire About To Get Deeper. As I said at that time:   So who pays for... Read more »

Case Shiller: Chicago Area Home Prices Rise Faster Than In California

Case Shiller: Chicago Area Home Prices Rise Faster Than In California
After yesterday’s release of the Dow Jones S&P CoreLogic February Case Shiller home price index I needed a catchier headline than the usual “Home Prices Are Slowing Down” and “The Chicago Area Was Slow To Begin With”. I decided to focus instead on the unusual circumstances of home price appreciation in all 3 California metro... Read more »
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