Any thoughts on buying a 3bdrm condo in Chicago? I know the market is hot and property taxes are high, but wondering if the chicago market is like San Francisco and will keep going up no matter what happens with interest rates, the economy or property taxes. Should I take the plunge and buy or do many you think I should hold off? I know no one has a crystal ball, but just trying to get a sense for the current thinking from more experienced home buyers. This will be my first home purchase.

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I think assuming the SF market will forever go up is a very bad assumption in the post covid and remote work worl
Yes prices will rise just given the water locked city and crazy liberal policies they have on rent and development. But very different mantra than before. I also personally wouldn’t invest in Chicago.

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Chicago growth rate is nearly flat so you won’t see large increases like San Fran. I’m sure covid jacked up prices but overall Chicago prices are and will stay much more reasonable and affordable in comparison.

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How long do you plan on living there? If it’s long term I don’t think there are any issues, but would not buy if you think you might move in the next 7 years.

I live in Chi, and I don’t think I’d ever buy a house here in IL. The state is broke and has no cap on property taxes which are already fairly high. Good assumption is that those taxes will continue to increase and keep prices fairly flat YoY.

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