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Sorta makes me think that UBS is working on pure financials and not factoring in the actual things depressing Chicago house prices: - Political and state-level
by bpodgursky 6y ago
Sorta makes me think that UBS is working on pure financials and not factoring in the actual things depressing Chicago house prices:
- Political and state-level financial stability risk (the entire state is a stock market hiccup away from bankruptcy)
- Catastrophic and increasing murder rate, which is only getting worse (not to mention other less-fatal crime)
- Deteriorating public schools driving wealthy families out, or at least to suburbs
I don't think Chicago is (yet) lined up to be a new Detroit, but there are real reasons to undervalue Chicago house prices right now...
- colinmhayes 6y agoI grew up in Chicago and left. The areas plagued by gang violence are actually the best in terms of home value to rent ratio for the landlord. Everyone else isn't effected by the violence. Public schools in the city are better than in the suburbs. The real reason that the future isn't bright is mostly the horrible fiscal situation and the god awful weather.