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Old 10-02-2023, 09:05 PM
 
441 posts, read 230,114 times
Reputation: 749

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https://www.nytimes.com/2023/09/28/r...-everyone.html





Minneapolis, a city 1/6 the size of Chicago, is outbuilding the city. Chicago might be the NIMBY capital of America. Building the least of any major city.
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Old 10-03-2023, 12:39 PM
 
Location: Chicago
3,925 posts, read 6,842,298 times
Reputation: 5501
The headline of both your post and the article itself are a bit misleading. They are tracking apartment units ONLY. Not overall building.

I'm not sure, but I have a hypothesis that Chicago isn't in last for overall building and the reason we are seeing so few apartment units is because condos are probably a higher percentage of units built than the other major cities.

Chicago is extremely affordable when compared to the top metros. This does two things: 1) Prevents investors from building apartment buildings because the return is less, and 2) Encourages more home ownership over renting since people can afford to buy versus rent.

Lastly, another factor you have to consider is population size and growth. Chicago continues to lose population to the south so demand just isn't as strong.
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Old 10-03-2023, 03:33 PM
 
441 posts, read 230,114 times
Reputation: 749
Quote:
Originally Posted by ChiGuy2.5 View Post
The headline of both your post and the article itself are a bit misleading. They are tracking apartment units ONLY. Not overall building.

I'm not sure, but I have a hypothesis that Chicago isn't in last for overall building and the reason we are seeing so few apartment units is because condos are probably a higher percentage of units built than the other major cities.

Chicago is extremely affordable when compared to the top metros. This does two things: 1) Prevents investors from building apartment buildings because the return is less, and 2) Encourages more home ownership over renting since people can afford to buy versus rent.

Lastly, another factor you have to consider is population size and growth. Chicago continues to lose population to the south so demand just isn't as strong.

Chicago is so "affordable" because 2/3 of the city is damn near Detroit status. Crime is 3rd world/warzone levels in many south/west neighborhoods and the schools are complete crap. The 1/3 of the city that is nice, the northside, is expensive. Buying a SFH in neighborhoods like LP, Lakeview, Logan Square, Old town, Wicker, etc. all start at $1 mil. Let the south and west sides gentrify like Brooklyn and prices would rise accordingly.


NYC and LA are both losing population yet are still building like crazy. NYC is literally #1 on this list by far and they lost population this year. Chicago is clearly doing something wrong and isn't keeping up with its peers
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Old 10-03-2023, 07:55 PM
 
253 posts, read 199,907 times
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Chicago has plenty of apartments. No need to build.
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Old 10-03-2023, 10:03 PM
 
441 posts, read 230,114 times
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Quote:
Originally Posted by Chicago-guy View Post
Chicago has plenty of apartments. No need to build.

...Every city needs to build. Or become like SF and be uber expensive because the city refuses to build.
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Old 10-04-2023, 07:50 AM
 
Location: Chicago
3,925 posts, read 6,842,298 times
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Quote:
Originally Posted by ggplicks View Post
Chicago is so "affordable" because 2/3 of the city is damn near Detroit status. Crime is 3rd world/warzone levels in many south/west neighborhoods and the schools are complete crap. The 1/3 of the city that is nice, the northside, is expensive. Buying a SFH in neighborhoods like LP, Lakeview, Logan Square, Old town, Wicker, etc. all start at $1 mil. Let the south and west sides gentrify like Brooklyn and prices would rise accordingly.


NYC and LA are both losing population yet are still building like crazy. NYC is literally #1 on this list by far and they lost population this year. Chicago is clearly doing something wrong and isn't keeping up with its peers
Did you come here just to bash Chicago? The fact you spew made up facts like 2/3 of Chicago is Detroit status tells me that you're just trolling. Chicago isn't doing great, this won't go down as one of the high points in history for Chicago, BUT it's cyclical. Every major city has had good decades and bad decades where crime and lawlessness was out of control. Heck, the 90's and parts in the 80's were worse in all major cities than any today.

Also, the northside isn't expensive compared to other major cities. 1million for a SFH in Lincoln Park is a steal. That same home in Brooklyn would likely be 5+million.
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Old 10-04-2023, 08:37 AM
 
Location: Milwaukee, Wisconsin
4,655 posts, read 3,267,221 times
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ChiGuy2.5, good morning,

I just happened to see in the thread on the OP who had a friend visit for 2 days, who was bored...

And ggplicks responded: "Imagine being bored during a summer in Chicago, insane, that woman has no idea what she's talking about. Literally activities going on all throughout the summer. Even in the suburbs."

So, it seems to me that ggplicks isn't a complete BASHER!

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Old 10-04-2023, 08:42 AM
 
Location: Austin, TX
836 posts, read 456,765 times
Reputation: 1312
Yikes getting out built by NIMBY capital SF is not a good look.
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Old 10-04-2023, 08:48 AM
 
441 posts, read 230,114 times
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Originally Posted by DaBears02 View Post
Yikes getting out built by NIMBY capital SF is not a good look.

super bad look. In SF, developers literally have to pull teeth and beg to get housing built.
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Old 10-04-2023, 08:58 AM
 
441 posts, read 230,114 times
Reputation: 749
Quote:
Originally Posted by ChiGuy2.5 View Post
Did you come here just to bash Chicago? The fact you spew made up facts like 2/3 of Chicago is Detroit status tells me that you're just trolling. Chicago isn't doing great, this won't go down as one of the high points in history for Chicago, BUT it's cyclical. Every major city has had good decades and bad decades where crime and lawlessness was out of control. Heck, the 90's and parts in the 80's were worse in all major cities than any today.

Also, the northside isn't expensive compared to other major cities. 1million for a SFH in Lincoln Park is a steal. That same home in Brooklyn would likely be 5+million.

I'm not a Chicago basher, but i'm not a booster either. I'm a Chicago realist. I want Chicagoans to stop comparing themselves to rust belt has-been cities like Detroit, St Louis, and Indianapolis, and actually start competing with its peers, NY/LA/Boston/SF/DC/Miami, etc.



Crime wise, yeah Chicago is doing better than Detroit or St. Louis, but why the hell are we comparing ourselves to them? New York and LA are FAR safer nowadays. NYC is 4x the size of Chicago yet has 1/4 the homicides and crime. Brooklyn is the same size as Chicago, yet one has 100 homicides, the other has 500. Same with LA. Chicago is a crime-ridden city, admit it.


2/3 was an exaggeration as there are nice neighborhoods on the south/west sides (like Hyde Park, Chinatown, Bronzville, Beverly, etc.) but let's not kid ourselves, the vast majority of neighborhoods on the south/west sides are losing population for a reason. Many schools on the south/west sides are literally empty.



https://www.google.com/url?sa=t&rct=...Y&opi=89978449


Neighborhoods on the south/west sides face the same levels of violence found in warzones


https://www.google.com/url?sa=t&rct=...J&opi=89978449


Don't even get me started on the fact that these neighborhoods are filled with blight and vacant lots, not a good look at all, nobody wants to live near that.


This city seemed to be on an upswing with Rahm as mayor until the pandemic, then Lightfoot came into office and the city started stagnating. Now with our super progressive socialist, crime defending mayor, Mr. Johnson, the city is straight up declining now. He is super anti business, and that mansion tax will just hike up rents and prevent more housing from being built. Can't believe he got elected.


Rahm gave us improved transit, the riverwalk, 606, made Chicago a corporate relocation magnet, beautified the city, downtown skyrocketed in popularity, tourism peaked, etc.



Lightfoot didn't do jack ****. Atleast we got a casino downtown and invest south/west really kicked off. Seems like Johnson is going to turn Chicago into Skid Row LA with his tent migrant plan and just increase taxes.
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