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Most major cities in the United States are either overvalued or in danger of bursting their real estate bubbles; but not Chicago.
According to UBS Group AG, the Windy City is the only undervalued market in its survey of 20 financial centers.
One of the factors driving this undervaluation is Chicago’s rental prices, which are rising faster than its home prices.
Chicago is “a wonderful city, but its fiscal challenges are well-known,” Jonathan Woloshin, head of Americas real estate at UBS’s global wealth unit, said Thursday in a phone interview. “When you factor in population flows, when you factor in income growth, when you factor in home price growth, that’s why Chicago scores where it does.’’
Read on HERE:
Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.
Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.