The headline on a recent Reuters story at MSNBC giddily announces: America becoming a nation of renters.
Chicago, like a number of major cities, has long been a “city of renters,” with 55% of its housing stock being renter-occupied. Nearly two-thirds of metro-Chicago’s housing, however, is owner-occupied, and “renter-occupied housing accounted for only 7.6 percent of all new occupied housing units in the region since 2000,” according to the Chicago Metropolitan Agency for Planning.
The end of the year is traditionally a time for forecasting the future. Lacking confidence in our ability to do that, we’ll simply refer you to our Chicago Real Estate News page, where you can see reports and forecasts from the 100s of local, regional and national news sources that we summarize daily.