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Vacationland: Chicago?

Posted by: Tim Halbur

10 July 2009 - 12:00pm

With a housing market full of new condos and converted loft buildings, Chicago is becoming a popular place to purchase a vacation home.

"The city has a ready supply of deeply discounted condos, even in blue-chip neighborhoods around downtown and on the lake.

But buyers are looking for and finding slivers of opportunity. And they say they are buying with some confidence, knowing that the Chicago market has generally been more tempered than those on the coasts and in the Southwest, where the housing crisis has perhaps done the most damage."

Full Story: The Second City Is Becoming Second-Home City
Source: The New York Times, July 9, 2009
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If housing does exceed three times household income, it is a warning sign that there are likely regulatory impediments to that particular urban market's ability to supply affordable housing around the urban periphery.
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