Chicagos Hemorrhaging Housing Market (Paris, Detroit: middle-class, real estate market, homes)

[wase4711]

https://www.city-journal.org/chicago-housing-market

[Sunbiz1]

"It isn’t just the wealthy, who tend to be older, leaving. A new study by demographer William Frey of the migration patterns of millennials (those aged 22 to 38) found that Chicago ranks as the third-least attractive among the nation’s 53 largest metro areas, losing an average of nearly 19,000 more young adults than it gains every year."


At this rate, city should be pretty much abandoned by 2050.

[Kamms]

Originally Posted by wase4711

https://www.city-journal.org/chicago-housing-market

This is an accurate assessment of the Chicago real estate market. I know posters on here are going to point out the ''boom'' downtown, river north, etc the usual but the middle class is leaving the city, county, metro, and state. I know several folks in the city that can't sell their homes for what they paid during the early '00s boom...NW side 'hoods to be specific.

[CCrest182]

Originally Posted by wase4711

https://www.city-journal.org/chicago-housing-market

Not a reliable source in the slightest. Errr. Try again.

I agree with some points there, but I immediately throw ultra-politically charged and heavy leaning biased websites in the garbage, as they rarely allow reality to stay in the spotlight over their own opinions and beliefs.

I say this as a libertarian/center right person myself. That website is not a credible source, but a non-stop editorial board for hardcore conservatives.

I've heard the narrative of "Chicago will look like Detroit or Flint" way too many times, just like I've heard people on the far left claiming Florida will be underwater in 10 years. Those extreme narratives and scare tactics just get old after a while.

[Kamms]

Originally Posted by CCrest182

Not a reliable source in the slightest. Errr. Try again.

I agree with some points there, but I immediately throw ultra-politically charged and heavy leaning biased websites in the garbage, as they rarely allow reality to stay in the spotlight over their own opinions and beliefs.

I say this as a libertarian/center right person myself. That website is not a credible source, but a non-stop editorial board for hardcore conservatives.

I've heard the narrative of "Chicago will look like Detroit or Flint" way too many times, just like I've heard people on the far left claiming Florida will be underwater in 10 years. Those extreme narratives and scare tactics just get old after a while.

You can dismiss what you want with the biased talk but, on the ground, Chicago is not doing great now. I didn't read that the Chicago was going to be the next Detroit-Flint in this article.

The Chicago area housing market is not great and the population loss is real.

Politics and biases aside, Lightfoot and Pritzker need to turn things around ASAP.

[KerrTown]

Originally Posted by CCrest182

I've heard the narrative of "Chicago will look like Detroit or Flint" way too many times, just like I've heard people on the far left claiming Florida will be underwater in 10 years.

The only way Florida will be underwater is if the limestone karst collapses and becomes a hotspot for sinkholes. Potable drinking water is harder to find because of seawater intrusions into the aquifer.

The Texas Hill Country has the same karst topography and full of sinkholes that are home to tourist attraction caves. San Antonio's northern suburbs and west Austin could pancake the same way as in Florida.

Originally Posted by Kamms

I know posters on here are going to point out the ''boom'' downtown, river north, etc the usual but the middle class is leaving the city, county, metro, and state.

But nobody leaving the U.S.? I would leave the U.S. after living in Illinois from PTSD.

I would imagine that Chicago would join S.F., L.A. and N.Y.C. in having the desirable areas becoming unaffordable--attracting the über-wealthy, and the undesirable areas being full of middle-class (and lower) people struggling to get by. The pretty skyline by the lake will attract the scenesters and groupies of the global titans for sure!

[CCrest182]

Originally Posted by Kamms

You can dismiss what you want with the biased talk but, on the ground, Chicago is not doing great now. I didn't read that the Chicago was going to be the next Detroit-Flint in this article.

The Chicago area housing market is not great and the population loss is real.

Politics and biases aside, Lightfoot and Pritzker need to turn things around ASAP.

Oh I agree completely, Chicago is one of the most troubled cities politically in the nation. I just can't stand the doomsday talk, no matter if that's about liberal places or conservative places. Things are rough but Chicago will be fine as a city in the end. I have hope that things can turn around for the better.

[CCrest182]

Originally Posted by KerrTown

The only way Florida will be underwater is if the limestone karst collapses and becomes a hotspot for sinkholes. Potable drinking water is harder to find because of seawater intrusions into the aquifer.

The Texas Hill Country has the same karst topography and full of sinkholes that are home to tourist attraction caves. San Antonio's northern suburbs and west Austin could pancake the same way as in Florida.



But nobody leaving the U.S.? I would leave the U.S. after living in Illinois from PTSD.

I would imagine that Chicago would join S.F., L.A. and N.Y.C. in having the desirable areas becoming unaffordable--attracting the über-wealthy, and the undesirable areas being full of middle-class (and lower) people struggling to get by. The pretty skyline by the lake will attract the scenesters and groupies of the global titans for sure!

People have been saying FL will be gone in the future for decades now, and it's never even remotely happened. It's non-sense, IMO. If it does happen, it probably won't happen for hundreds of years.

[coldwine]

Originally Posted by Sunbiz1

"It isn’t just the wealthy, who tend to be older, leaving. A new study by demographer William Frey of the migration patterns of millennials (those aged 22 to 38) found that Chicago ranks as the third-least attractive among the nation’s 53 largest metro areas, losing an average of nearly 19,000 more young adults than it gains every year."


At this rate, city should be pretty much abandoned by 2050.

Me of twenty years ago: "Chicago? I'm going to Paris!"

Me of today: "You are going to need every Whitewalker in the goddamned world before I am forced to live in San Francisco."

[Chicago_Person]

Originally Posted by CCrest182

People have been saying FL will be gone in the future for decades now, and it's never even remotely happened. It's non-sense, IMO. If it does happen, it probably won't happen for hundreds of years.

Eh. It's not like the movies.