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Old Posted Oct 5, 2019, 6:34 PM
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pdxtex pdxtex is offline
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Join Date: Jan 2004
Location: Portland, OR
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I don't think they are being priced out, at least not in the traditional sense. They just aren't able to ascend any further and the social environment in the far south side keeps getting worse. Alot of Chicago homeowners are still underwater on their mortgages and much of the city has barely recovered. Of the county's 10 largest cities, Chicago has the highest rate of underwater mortgages, almost 14% of all homeowners in the city. By comparison, NYC is half that at about 6.5 percent. Illinois as a whole had the fifth highest foreclosure rate last quarter. There are tons of northside properties too that are barely priced higher than they were 15 years ago. A huge inventory mixed with high taxes, high hoas = bad news...i dont know much about the CHA situation but thats an interesting take on the situation.
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Last edited by pdxtex; Oct 5, 2019 at 7:24 PM.
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