New numbers show that Chicago housing is becoming more affordable
A new report from the National Housing Conference and Center for Housing Policy shows that Chicago's housing market is more affordable for both buyers and renters. This is the silver lining after an extended period of foreclosures and stagnant sales.
The report, "Paycheck to Paycheck", analyzes affordability of homes for potential buyers and renters working in a list of occupations. Chicago is one of more than 200 metropolitan areas studied. According to the list, the Chicago metro area ranks 78th for buying affordability and 55th for renters.
Chicago magazine "Deal Estate" columnist Dennis Rodkin has been pouring over the charts, and he joins Eight Forty-Eight Monday to discuss whether this is really the jump start Chicago needs to inch closer to a sunnier picture for the market.