Why is Chicago losing population? (Detroit: home, sales tax, to live)

[oakparkdude]

Originally Posted by LakeShoreSoxGo

You also have the fact that the suburbs have officially become much cheaper than the city.

Some suburbs are cheaper.

Additionally, many (not all) residents of Chicago can do without the expense of owning a car, whereas car ownership is virtually a necessity in the suburbs. (Granted owning a car in the city is more expensive than in the burbs).

[LakeShoreSoxGo]

Originally Posted by sukwoo

Some suburbs are cheaper.

Additionally, many (not all) residents of Chicago can do without the expense of owning a car, whereas car ownership is virtually a necessity in the suburbs. (Granted owning a car in the city is more expensive than in the burbs).

More like the majority of suburbs are cheaper than the city. I'm not sure it is dealing with the expense of owning a car vs the expense of owning a car in the city. A good portion of peoples lives do not revolve around the CTA and its lines and still need cars in the city.

[Spire]

I think Chicago is becoming more and more like Manhattan. It's becoming ridiculously expensive to live in, housing prices are going up IN THE CITY OF CHICAGO! It use to be a three bedroom two bathroom house in the city could run you 150k, now that's up to 300k+. The only advantages this has is that Chicago will be one of the few large middle class cities, which makes it safer and more appealing to other middle class people. I also read somewhere that the country is in a baby boom again. Another interesting thing I read is that the American High School graduating class of 2009 is the largest EVER, with the average high school having a class size of about 650 compared to the normal 589 underclassmen.

[scottl333]

It is losing residents because of cost of living. People are tired of paying these high taxes and then getting bad service. example the snow plows. Also, expect there to be a big loss in people when the next census comes out next year with illegal immigrants leaving chicago and going back to their home country because of the bad economy.

[DC's Finest]

Not even close! A three bedroom house in Manhattan starts at 1 million and up.

[LIS123]

Manhattan has come down quite a bit and will go down a lot more, though it will stay clearly higher than Chicago (as it relates to housing prices).

[BRU67]

Originally Posted by Spire

I think Chicago is becoming more and more like Manhattan. It's becoming ridiculously expensive to live in, housing prices are going up IN THE CITY OF CHICAGO! It use to be a three bedroom two bathroom house in the city could run you 150k, now that's up to 300k+.

Maybe you're not looking in the right places. In Chicago, there are inner-ring suburbs and City neighborhoods which are easily accessible to the Loop and have vintage brick bungalows available for less than $250k (e.g. Berwyn, Galewood). And in this market, you can even get a 1,000-1,200 square foot loft in the South Loop and walk to work for less than $250k also. Try that in NYC! Not happening.

We've got a long way to go before Chicago is anywhere close to New York City in terms of real estate prices. There are much better values here, with many of the same benefits.

[ChiMack]

one of the main reasons is hispanic immigration that is the reason for population growth, areas on the northwest side that once were predominately white are now becoming vastly hispanic, its all good

[Lookout Kid]

Originally Posted by DC's Finest

Not even close! A three bedroom house in Manhattan starts at 1 million and up.

Spire's take on prices is really off. Houses in most of the desirable North Side neighborhoods are over $1M. You can get a crap hole in Ravenswood for $700,000, but that's pretty far from the Loop.

[Lookout Kid]

Originally Posted by LIS123

Manhattan has come down quite a bit and will go down a lot more, though it will stay clearly higher than Chicago (as it relates to housing prices).

Manhattan SHOULD be more expensive than anywhere in Chicago. I don't think this will ever change.