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Thursday, August 18, 2011

Chicago-area apartment rents rise again, trend not slowing down - Chicago Sun-Times

Chicago-area apartment rents rise again, trend not slowing down - Chicago Sun-Times


Talk about "every which way but loose" seems appropriate here.

Another article within this paper tells a tale of home sales going up, but prices falling: http://www.suntimes.com/business/7138555-420/home-sales-in-chicago-area-jump-192-percent-in-july-but-prices-fall.html. So one would think, now is a good time for renters to save some cash, plunk down that elusive 20%, and purchase such homes. But there may be a problem with such logic. During the housing burst, many of these renters possibly lost such homes via foreclosure, walking away, or bankruptcy. So with that being said, an issue of "credit worthiness" may rear its ugly head.

Hell of a conundrum we have here. Landlords jacking renters rates up with many of them having no other alternatives. Getting hit from "every which way but loose", truly does appear appropriate indeed.

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