The housing crash in property values has been devastating to practically every neighborhood and that can never be good. However during the recovery it appears a trend is emerging that may be very positive for many Chicago neighborhoods’.
Essentially it appears a back to basics with first time home buyers purchasing property in their neighborhood and not moving to the Chicago suburbs. The typical reason to move out there was larger homes at more affordable prices. But with an ample supply of suitable homes for the modern family within the City of Chicago, this reason has dissolved so a certain extent. In addition gas prices are high and expressways like I-55 and I-290 are always a nightmare.
It is unknown if this trend will continue but if it does it will actually strengthen the neighborhoods with more family members living closer together.
There is plenty of affordable housing on the South side of Chicago available in Chatham, Mount Greenwood and Beverly. Not to mention in many other parts of the City.
