Housing boom puts Chicago region out of reach to many low-income buyers
Not long ago, the Chicago area was one of the biggest markets in the country where a low-income family could afford a modest-priced home. But after prices soared during the COVID-19 pandemic, even the lower-priced homes became out of reach for many low-income households, according to a recent report from the Joint Center for Housing Studies of Harvard University. The report showed many likely ...
Not long ago, the Chicago area was one of the biggest markets in the country where a low-income family could afford a modest-priced home.
But after prices soared during the COVID-19 pandemic, even the lower-priced homes became out of reach for many low-income households, according to a recent report from the Joint Center for Housing Studies of Harvard University.
The report showed many likely first-time buyers are being priced out of homeownership. The effects of that could ripple through the rental market and what were once more accessible city neighborhoods and suburbs, real estate and lending professionals said.
“That’s changing I think the fabric
