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John Burns's picture

Chicago Housing Outlook an A+ after Falling 91%

Watch out for a housing renaissance in the Chicago metro area. The region massively overcorrected in this last downturn and just recently joined the recovery. New home revenue fell 91% from 2005 to 2010, and most private builders went out of business.

We recently opened an office in Chicago to take advantage of the resurgence in this region and the rest of the Midwest. Midwest builders supply new homes to the 23% of the US population who live in the region. While the future of US housing demand will skew toward the South, the Chicago metro area and other Midwest cities should experience solid construction growth and home price appreciation over the next few years.

Chris Porter's picture

The Subprime Generation

Talk about an amazing reversal of fortune! This may be the most amazing, underreported demographic fact today.

  • 30-34 year olds in 2012 had the lowest homeownership rate of any similarly aged group before them!
  • Five years prior, this exact same group had the highest homeownership rate at 25-29 years old than any group before them!

Using homeownership-by-age data from the Census Bureau, we compared households by years of birth to examine how homeownership changes over consumers' lifetimes.

John Burns's picture

What 2013 Tells Us about the Future

Year in Review
2013 was a very interesting year for housing and can be characterized by three periods: