Quote:
Originally Posted by gebs
As someone who lives in the area, I've definitely seen a fair share of properties hit the market. I've spoken with a few real estate agents and they confirm that selling places in the city isn't what it was in 2019. Listing prices have gone down and may continue to do so, with some apartment buildings dropping rents to lure in tenants.
That said, I agree with both sentinel and Handro. My addition to the conversation is that making the city more affordable (even if it's due to a generational pandemic) is good news for anyone who had wanted to move but couldn't. This dip will likely create opporunities for young professionals and families who want to make the leap and take root in city living.
For all its current woes, the city isn't going anywhere.
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Yep, my wife and I bought a place (2 br in the loop proper with a low HOA for under 300) that we almost surely would not have been able to afford a year ago. low interest rates and temporary reduced demand = great time to buy.
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