Category: Renting

Housing Is Unaffordable For Half Of Chicago Renters

Housing Is Unaffordable For Half Of Chicago Renters
I set out to write a really simple blog post about affordable housing in Chicago but kept running into dead ends. The data I was looking for was so hard to find that the title of this blog post was originally All Affordable Housing Data Is Crap. But eventually I found something I could use... Read more »

The Decline Of Chicago's 2-4 Flat Rental Buildings

The Decline Of Chicago's 2-4 Flat Rental Buildings
Back in late April the DePaul Institute For Housing Studies (these guys produce great housing data) produced a report on The State Of Rental Housing In Cook County which showed a fairly significant decline in the number of rental units available in Cook County in 2-4 flat buildings. The county (mostly Chicago, right?) has lost... Read more »

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 »
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Tax Reform Hacks For Real Estate A Bit More Complicated

Tax Reform Hacks For Real Estate A Bit More Complicated
On Thursday I posted some ideas on how to retain the benefits of the mortgage interest and property tax deductions under the new tax law. But I think I oversimplified it a bit so I wanted to backtrack for a few minutes. Let me clarify a few things. First, I want to make sure that... Read more »

Real Estate Tax Reform Hacks: Renting, Buying, And Investing

Real Estate Tax Reform Hacks: Renting, Buying, And Investing
Last week I posted on how the new tax reform law has increased the attractiveness of renting a home vs. buying a home because of the increase in the standard deduction and the $10,000 limit on the deductibility of state and local taxes. As I pointed out in a November 2017 post the real problem... Read more »

Renting A Home Suddenly Looks Better Under Tax Reform

Renting A Home Suddenly Looks Better Under Tax Reform
As people are working on their tax returns I suspect the reality of the new Tax Cuts and Jobs Act is starting to kick in – and I’m not talking about the withholding/ refund drivel that the media is obsessed with. The bigger issue is the $10,000 SALT (state and local tax) deduction limitation that... Read more »
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Is Government Interference In The Real Estate Market Such A Bad Idea?

Is Government Interference In The Real Estate Market Such A Bad Idea?
It looks like real estate populism is alive and well in Chicago and Illinois with growing support for the government to step in and “fix” the real estate market here. You know…stop bad things like rising rents and high home prices through rent control and affordable housing requirements. Never mind that Chicago is probably already... Read more »

The Mystery Of Chicago's Condo Deconversion Boom

The Mystery Of Chicago's Condo Deconversion Boom
In case you haven’t noticed there has been a real flurry lately of buildings in Chicago deconverting from condos to apartments. According to an article on Chicago condo deconversions in Rebusiness Online “nearly 2,000 units deconverted at a combined market value of approximately $437 million since late 2016 in Chicago, according to data from CoStar... Read more »

Chicago Voter Support For Rent Control A Huge Mistake

Chicago Voter Support For Rent Control A Huge Mistake
Last week 75% of Chicago voters who were given the chance to weigh in on Illinois’ current ban on rent control supported lifting the ban. I guess technically they didn’t actually support rent control – i.e. lifting the ban would merely give local governments the option of imposing rent control. However, I have a strong... Read more »
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When Exactly Is Chicago's Apartment Rental Season?

When Exactly Is Chicago's Apartment Rental Season?
If you talk to longtime Chicago residents or landlords they will tell you that Chicago has a very specific apartment rental season and the implication is that if you miss it you are screwed – whether you are a landlord or a tenant. The only thing is that there is a lot of mythology floating... Read more »