Colouring in book launched using iconic png image
⢠Introducing 'book screen-printed in black and white'
⢠'The Book of Bizarre' and 'The Book of Magic' by Paul Harvey available on Kindle
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Southern housing demand expected to stay strong
The study, which was authored by Robert DeWitt and Michael S. Bochenek, was published on December 29 in the journal Housing Research.
A new study, published this month in the journal Urban Land Institute, shows that demand for new housing in Chicago, one of the nation's oldest metropolitan areas, is expected to stay strong in the coming decades. The study looked at median and median-only prices (with or without subletting), and the total amount of housing stock in an area.
A map of the US housing market
Chicago has long maintained a high percentage of affordable housing. To help get some of this out there, we've created this map, that highlights some of Chicago's most important affordable housing areas.
Chicago is home to some of the oldest and most significant housing areas in the country. These areas are located between the booming downtowns of Midtown and Central Park, and the industrial areas of North Lawndale, Oak Park, North Lawndale/Garcia, and Lakeview. The most populous of these is the South Loop, with around 10.2 million people. This area contains a mix of houses and condos, including many rental units.
Here are the median and median-only prices that are the most common in these areas:
Families, singles, condos, apartment: $1,000
Business, retail, and institutional: $850
Aboriginal and tribal lands: $500
Other: $700
What is affordable housing?
Affordability is defined as a set of financial resources that are typically affordable for a family or person, given a certain income level, and a specific level of assets, including a certain amount of net debt. While this is not the same as affordability itself, there is still a lot of work to be done if affordable is to be defined as a common term for housing available to all.
What's in my house?
In the study, the authors looked at median and median-only price data for homes and condos in each of the 50 largest metro areas, covering 25 of the fastest growing regions. Median and median-only prices are the prices of the average house or apartment sold during a given year.
"As home prices continue to rise and the median value of home prices continues to fall, we expect to continue a large share of the nation's home values to increase in the next few decades," say the authors, "as supply increases and housing demand is allowed to keep pace. For the vast majority of metro areas, both supply and demand continue to meet, so if housing and demand are on par in the coming decades, it is unlikely we'll see pric |
