CHICAGO | General Discussions

[ardecila]

Originally Posted by west-town-brad

Feb 2021 was the strongest month in Chicago residential real estate in 16 years, so apparently people are willing to make that bet.

https://www.chicagobusiness.com/resi...ebruary-record

Yes, Covid has produced a boom in people looking to move from apartments into houses since they can't spend disposable income on travel and bars/restaurants. The condo market is still lukewarm.

Once Covid ends, things should go back to "normal" but if we get a rent control ordinance it will seriously impact our rental market which currently produces plenty of mid-priced housing. That affordable housing market is a big part of what makes the city a draw for talent. It's certainly not our natural beauty, climate, or dominance in a particular industry...

[SIGSEGV]

Originally Posted by ardecila

Yes, Covid has produced a boom in people looking to move from apartments into houses since they can't spend disposable income on travel and bars/restaurants. The condo market is still lukewarm.

Once Covid ends, things should go back to "normal" but if we get a rent control ordinance it will seriously impact our rental market which currently produces plenty of mid-priced housing. That affordable housing market is a big part of what makes the city a draw for talent. It's certainly not our natural beauty, climate, or dominance in a particular industry...

Have rents even been going up anywhere faster than would be allowed by rent control? I guess probably edge areas that turn from rough to desirable maybe...