Posts in category "Renting"

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 »

Urban Housing Costs Take Big Bite Out Of Income - But Not In Chicago Area

Urban Housing Costs Take Big Bite Out Of Income - But Not In Chicago Area
Between rising home prices, rising mortgage rates, and rising rents housing costs are on the rise and have just hit some of the highest levels in recent years. Last week Zillow released their Analysis Of Mortgage And Rent Affordability which showed that, nationally, mortgage payments are taking up the largest share of income since June... Read more »

Craigslist Chicago Rental Scam Alert

Craigslist Chicago Rental Scam Alert
There seems to be an upsurge in Craigslist rental scams in Chicago over the last few weeks or maybe it’s just that they’ve recently started to suck me into them (suck, not suckered) for the first time. In 9 years in the real estate business in Chicago I’ve never gotten a single call about one... Read more »
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Homeowner Wealth Accumulation: Don't Let The NAR Fool You With Data

Homeowner Wealth Accumulation: Don't Let The NAR Fool You With Data
The National Association of Realtors is at it again, trying to convince everyone that buying a home is the key to riches. Their economist, Lawrence Yun, wrote an article that appeared in the October 14 issue of Forbes Magazine in which he makes the case that homeownership allows homeowners to accumulate an additional $190,000 in... Read more »

Chicago Rental Market Trends

Chicago Rental Market Trends
You’ve seen the construction cranes around town and you’ve heard the stories of skyrocketing rents so what does it all mean for the Chicago rental market? Can rents continue to rise at a blistering pace at the same time that they are adding a ton of supply to the market? To answer these questions I... Read more »

Chicago Rental Affordability Has Actually Improved

Chicago Rental Affordability Has Actually Improved
A new study was just released by the NYU Furman Center and Capital One on Renting In America’s Largest Cities. The Chicago rental market is one of the markets profiled. Their report shows that, while renting in Chicago is still damn expensive for a lot of people, there have been some marginal improvements. The report... Read more »
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Realtor Propaganda: Home Ownership Is The Key To Wealth

Realtor Propaganda: Home Ownership Is The Key To Wealth
The National Association Of Realtors is at it again. They’ve never seen a social or economic problem that buying a house couldn’t solve. They even have a full time chief economist, Lawrence Yun, whose job it is to regularly churn out statistics proving the benefits of home ownership or arguing for some kind of government... Read more »

Rent vs. Buy: Zillow's Housing Affordability Analysis Is Just Wrong

Rent vs. Buy: Zillow's Housing Affordability Analysis Is Just Wrong
It seems that with some regularity we get a story from some real estate information provider about how buying a home totally trumps renting a home. The last time I debunked one of these stories was a couple of years ago: The Math of Renting vs. Buying a home in Chicago. Now Zillow has come... Read more »

Chicago Landlords: Think Twice About Taking That Security Deposit

Chicago Landlords: Think Twice About Taking That Security Deposit
A couple of weeks ago I posted on the Chicago Landlord-Tenant Rules and mentioned, among other problems, that the rules pertaining to the acceptance, management, and disbursement of security deposits were quite onerous and fraught with potential problems for real estate investors. Well, on Friday the Chicago Tribune published an article on this very issue... Read more »
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Chicago Real Estate Investing: Landlord-Tenant Rules

Chicago Real Estate Investing: Landlord-Tenant Rules
So you think you want to invest in real estate in Chicago – and by invest I mean buy income producing property and become a landlord. It sure seems like everyone in Chicago has visions of tenants dancing in their heads. However, before you go and put all your eggs in the real estate basket... Read more »