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Old 07-28-2017, 11:38 AM
 
Location: Northeast states
10,675 posts, read 8,202,501 times
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Quote:
Originally Posted by NOLA101 View Post
It's very simple. Chicago and Philly aren't as desirable. If they were more desirable, they would cost more.

Chicago is a great city, but isn't as urban or aesthetically nice, has bad weather, sits in the most boring part of the country, has high crime, a so-so economy, and isn't a glamorous locale.

Philly is also a great city, but has limited professional jobs, some really crappy zones, is kinda cliquish and tribal and just 70 miles from the most important city on earth.

I will note that really nice parts of Chicago and Philly are basically as expensive as NYC, Boston, SF, DC, etc. You will pay millions if you want something really nice and well-located in Rittenhouse Square or on the Gold Coast.
What can make Chicago more desirable place to live we all know it not hype up as NYC, L.A, Miami, Bay Area, Boston, Seattle, Denever lesser of extend Houston, Dallas, Salt Lake City, Charlotte, Phoenix
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Old 07-28-2017, 12:16 PM
 
7,719 posts, read 4,575,226 times
Reputation: 8429
Quote:
Originally Posted by chocisful View Post
philly and chicago are not as popular with wealthy foreigners with deep pockets who love buying and renting in nyc, san francisco, la , miami and dc . This in and of itself puts upward pressure on local real estate markets.
this
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Old 07-28-2017, 12:21 PM
 
2,006 posts, read 1,022,430 times
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Quote:
Originally Posted by BPt111 View Post
What can make Chicago more desirable place to live we all know it not hype up as NYC, L.A, Miami, Bay Area, Boston, Seattle, Denever lesser of extend Houston, Dallas, Salt Lake City, Charlotte, Phoenix
I would say, that since Chicago is the third largest city in the US, it's popular enough. Who, on earth, wants the cost of buying real estate in Chicago, even higher. Speaking as someone who owned property there, we're good.
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Old 07-28-2017, 12:23 PM
 
7,719 posts, read 4,575,226 times
Reputation: 8429
Quote:
Originally Posted by NOLA101 View Post
It's very simple. Chicago and Philly aren't as desirable. If they were more desirable, they would cost more.

Chicago is a great city, but isn't as urban or aesthetically nice, has bad weather, sits in the most boring part of the country, has high crime, a so-so economy, and isn't a glamorous locale.

Philly is also a great city, but has limited professional jobs, some really crappy zones, is kinda cliquish and tribal and just 70 miles from the most important city on earth.

I will note that really nice parts of Chicago and Philly are basically as expensive as NYC, Boston, SF, DC, etc. You will pay millions if you want something really nice and well-located in Rittenhouse Square or on the Gold Coast.
This simply isn't true.

https://www.redfin.com/PA/Philadelph.../home/38812974
https://www.redfin.com/IL/Chicago/12.../home/14123770


And there are other desirable areas in both cities.
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Old 07-28-2017, 12:32 PM
 
61 posts, read 37,644 times
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Quote:
Originally Posted by botticelli View Post
Crime rate?

Chicago and Philadelphia have an average of 17 or 18 murders per 100,000 the last five years. Washington, DC has the same.

New York is around 7 or 8 per 100,000. Not sure about San Francisco, but I think they're around there and so is Boston.

Not a huge difference in my opinion. If you're not involved in gangs or drugs, you shouldn't really worry. There's always a large number of people who spend years in a city that never experience any crime at all.
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Old 07-28-2017, 12:32 PM
 
9,701 posts, read 7,258,712 times
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Quote:
Originally Posted by gladhands View Post
This simply isn't true.
What "simply isn't true?" You're saying that top-tier RE in Chicago and Philly doesn't cost millions?

I don't know what your links have to do with anything. They're showing garbage properties. How many wealthy Chicago families are looking for a one bedroom walkup apartment in some dumpy building with no parking or amenities?
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Old 07-28-2017, 12:35 PM
 
Location: Northeast states
10,675 posts, read 8,202,501 times
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Quote:
Originally Posted by Enean View Post
I would say, that since Chicago is the third largest city in the US, it's popular enough. Who, on earth, wants the cost of buying real estate in Chicago, even higher. Speaking as someone who owned property there, we're good.
Chicago is like NYC kind of city was surprise it was affordable
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Old 07-28-2017, 12:39 PM
 
61 posts, read 37,644 times
Reputation: 82
Quote:
Originally Posted by NOLA101 View Post
It's very simple. Chicago and Philly aren't as desirable. If they were more desirable, they would cost more.

Chicago is a great city, but isn't as urban or aesthetically nice, has bad weather, sits in the most boring part of the country, has high crime, a so-so economy, and isn't a glamorous locale.

Philly is also a great city, but has limited professional jobs, some really crappy zones, is kinda cliquish and tribal and just 70 miles from the most important city on earth.

I will note that really nice parts of Chicago and Philly are basically as expensive as NYC, Boston, SF, DC, etc. You will pay millions if you want something really nice and well-located in Rittenhouse Square or on the Gold Coast.

Silly thing to say considering that Chicago and Philadelphia are bigger and more populous than San Francisco or Boston. If they aren't desirable, why do so many live there?

It's a combination of a few factors.

High paying salaries + NIMBY's + foreign investment.

NIMBY's limit the supply of new housing to meet demand. As a result, the cost goes up. That's the single biggest factor. They artificially inflate the cost of real estate by doing that. They also have high paying industries that add to that so they can pay more on average, and foreign investment also takes up inventory as well.

I personally enjoy Chicago and Philadelphia moreso than the others, so it's not a function of desirability to me at all. They're all incredible cities so I have to laugh about that, I'm sorry.
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Old 07-28-2017, 12:40 PM
 
9,701 posts, read 7,258,712 times
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Quote:
Originally Posted by BPt111 View Post
Chicago is like NYC kind of city was surprise it was affordable
Chicago isn't anything like NYC. They're totally different. That's, in part, why they have very different prices.

Lots of people who don't know NYC and Chicago think Chicago is some mini-NYC when it has a totally different feel. Outside of the fact that they're both big U.S. cities with lots of skyscrapers, they have a completely different vibe and streetscape.
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Old 07-28-2017, 01:02 PM
 
7,719 posts, read 4,575,226 times
Reputation: 8429
Quote:
Originally Posted by NOLA101 View Post
What "simply isn't true?" You're saying that top-tier RE in Chicago and Philly doesn't cost millions?

I don't know what your links have to do with anything. They're showing garbage properties. How many wealthy Chicago families are looking for a one bedroom walkup apartment in some dumpy building with no parking or amenities?
Can you keep those goalposts still for a second? You made a claim that it cost millions of dollars to buy into the nicest neighborhoods in Chicago, and it doesn't. The barrier of entry simply isn't that high. You can call those garbage properties if you want, but each of those properties are upward of $3 million dollars in comparable New York City neighborhoods.
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