Tag: Economic issues

Chicago And Illinois Politicians Pretend They Can Create Affordable Housing

Chicago And Illinois Politicians Pretend They Can Create Affordable Housing
Over the last few months politicians across Chicago and Illinois have been working overtime pursuing the impossible dream, trying to wave their magic legislative wands to conjure up affordable housing out of thin air. While it will probably succeed in getting them the votes they’re after it will ultimately fail, as it always does, in... Read more »

Bernie Sanders' Fairyland Housing Plan

Bernie Sanders' Fairyland Housing Plan
Over the past few weeks Fareed Zakaria*  has given his take on Bernie Sanders’ “Magical Thinking On Climate Change” and his “Scandinavian Fantasy”. This has inspired me to take a look at Bernie’s Fairyland Housing Plan. Now, believe it or not I do try to avoid getting too political on this blog. I might criticize... Read more »

Illinois #1 In Nation For Residents Leaving The State

Illinois #1 In Nation For Residents Leaving The State
Isn’t it great to be #1? Well, not when it’s a list of states sorted by people fleeing the state. And that’s the list contained in United Van Lines’ National Movers Study, released last month, where they calculate the percentage of total moves that are from the state (as opposed to to the state). They... Read more »
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Chicago's Affordable Housing Quagmire About To Get Deeper

Chicago's Affordable Housing Quagmire About To Get Deeper
Chicago has a long standing love affair with the notion of “affordable housing” – not CHA built housing but privately developed housing that people below various income limits can afford to buy or rent and are granted access to this housing by the city. But it’s not clear if they really love affordable housing or... Read more »

Fighting Gentrification In Chicago Is Like Fighting Gravity

Fighting Gentrification In Chicago Is Like Fighting Gravity
The fight against gentrification in Chicago has really heated up in the last couple of years – or maybe it’s always been a hot topic and I just never paid attention to it before. The two neighborhoods where the debate seems to be the hottest right now is Pilsen and West Bucktown (I actually hate... Read more »

Why America Will Never Be Great Again In Two Charts

Why America Will Never Be Great Again In Two Charts
This idea about why America won’t be great again has been floating around in my head for several years now – long before it became a political slogan – and it’s been wanting to get out. I won’t pretend it’s a great insight. It should be common knowledge but apparently it’s not given what the... Read more »
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Mortgage Rates Have Spiked And It's Trump's Fault

Mortgage Rates Have Spiked And It's Trump's Fault
In case you haven’t already noticed, it looks like we can blame the election for something else now – a huge spike in mortgage rates. The last couple of weeks have been full of surprises. Not only did nobody (I don’t really think that’s a double negative) predict the outcome of the election but nobody... Read more »

Chicago Area Employment Hits Record High

Chicago Area Employment Hits Record High
One of the economic indicators that I follow as a harbinger of the health of the Chicago real estate market is Chicago area employment. The Bureau of Labor Statistics provides that data for the greater Chicago metropolitan statistical area which includes all the suburbs from Naperville to Elgin and goes into parts of Wisconsin and... Read more »

Near Record Area Employment Driving Chicago Real Estate Market

Near Record Area Employment Driving Chicago Real Estate Market
In theory the Chicago real estate market should be driven by the local employment picture more than anything else. It comes down to the demand for housing – how many people CAN buy a home and also WANT to buy a home. And, with the exception of the small retired and independently wealthy population, it’s... Read more »
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What Will The Next Housing Crisis Look Like?

What Will The Next Housing Crisis Look Like?
On Monday I published a guest post on how mortgage lending standards have come full circle since the original housing crisis. In an effort to promote the American dream of home ownership regulators have once again eased up on the requirements for getting a mortgage. Meanwhile, it looks like Fannie Mae and Freddie Mac as... Read more »