Archive for February 2020
Mobility Trends: People Just Don't Move Like They Used To
OK. This blog post sounds an awful lot like the one I did a little over 2 1/2 weeks ago where I talked about how long people are staying in their homes. But the data I shared in that post was less than ideal. It was biased by only looking at people who moved and... Read more »
Case Shiller: Chicago And New York Tied For Slowest Home Price Growth
S&P Dow Jones CoreLogic released their December home price data this morning and the Case Shiller Chicago area home price index showed faster appreciation than it did in November. On a year over year basis single family home prices rose by 1.0% vs. 0.3% in November, which was the highest rate in 4 months and... Read more »
Chicago Foreclosure Activity Spiked To 15 Month High In January
Updated local foreclosure data from ATTOM Data Solutions posted yesterday showed a surprising spike in Chicago’s foreclosure activity for January, hitting a 15 month high. As you can see in the graph below the trend has been fairly consistently down for the last few years but January actually came in almost 21% higher than a... Read more »
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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 »
What The Sale To List Ratio Tells Us About The Chicago Real Estate Market
Assuming you’re really hungry would you rather have 25% of a 14″ pizza or 38% of a 10″ pizza? A lot of realtors seem to think you’re better off with 38% of a 10″ pizza because 38% is more than 25%, right? That’s the problem with the sale to list ratio that I’ve often bitched... Read more »
Homeowners Staying In Their Homes A Lot Longer Than They Used To
The real estate industry has a lot at stake when it comes to how long people stay in their homes. The average tenure of homeownership directly drives transaction volume. An average tenure of 5 years would result in 20% annual turnover of the housing stock while a 10 year tenure would produce 10% turnover. The... Read more »
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Chicago Real Estate Market Update: Home Sales May Be Turning Corner
A lot of people gauge the health of the Chicago real estate market in terms of home sales which is why I always start off my monthly update with that metric. The graph below shows the monthly sales numbers going back to 1997 with all the January numbers flagged in red and a light blue... Read more »
Waterproofing A Brick, Block, Or Stone Basement
About a month ago I posted on how to fix a water leak in a basement with concrete walls. However, older basements might be built using bricks, cinder blocks, or even stones and when those leak it requires a totally different strategy to waterproof them. For instance, because you have separate pieces of construction material... Read more »
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