Quote:
Originally Posted by Stunnies23
There are plenty of affordable housing options in Chicago. It's just that they are not 'trendy neighborhoods'. Instead they are blue collar hoods such as Clearing, Garfield Ridge, Hegewisch, etc.
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Based on a quick google search there are not many places are available for rent in these areas. They are mostly single family homes in the $150k-$250k range. This is "affordable" for many, but a $100k home can still require a $20k down payment.
The problem is not for home owners, they capture property value increases through home equity. While they may have to move if the property taxes get too high, they will re-coup that and more when they sell the house. The problem is with renters who see their monthly rents rise with higher property values.