Chicago has the 3rd largest metro population in the entire US [0]. Granted, I wouldn't argue that old housing is what keeps housing relatively cheap there but

Chicago has the 3rd largest metro population in the entire US [0]. Granted, I wouldn't argue that old housing is what keeps housing relatively cheap there but instead that there is endless farmland to build new housing and thus the price will pretty much always equal the marginal cost of building a new house as anyone trying to charge more can just buy some cheap farmland and build a house themselves. [0]: https://en.wikipedia.org/wiki/List_of_metropolitan_statistical_areas https://en.wikipedia.org/wiki/List_of_metropolitan_statistic...