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Chicago is the developed world's only under-value real estate market according to UBS

September 30, 2018

It's a well known fact that housing in Chicago is relatively affordable compared to coastal cities like New York, San Francisco, or Boston.  But a new study from UBS states that Chicago is the world's only under-valued city.  UBS analyzed 20 developed cities around the world to assess which are at the greatest risk of a housing bubble. While none of the major U.S. cities are in dangerous territory, San Francisco, Los Angeles and New York are overvalued.  Boston is fairly valued while Chicago is the only undervalued city on the list.  

 

I've long felt that Chicago's housing market represents a "goldilocks" type of situation for landlords and investors.  The city's economy is highly diversified and no one industry dominates (think of Tech in San Francisco, Entertainment in Los Angeles, or Autos in Detroit).  This diversification means the city's economy (and by extension, the city's housing market) will be more immune to any industry-specific downturn.  From an investor's point of view, Chicago's relatively lower property values coupled with it's strong rents means great returns.  We may not have the eye-watering price growth of say, San Francisco (80% rise in home prices over just the last 6 years), but we believe the slow and steady appreciation will increasingly attract national and international investors.  

 

The chart below show the UBS Global Real Estate Bubble Index and the article can be accessed here.

 

 

 

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CCDS is a division of Pearson Realty Group formed by A.J. Manaseer in 2016 to focus on the burgeoning deconversion trend happening in the Chicago area. CCDS consists of a group of real estate and legal professionals whose mission is to leverage our knowledge and experience to achieve the best possible results for our clients. 

 

A.J. has been active in Chicagoland real estate as an investor, broker, and developer for over 15 years. Since 2012, A.J. has completed over $325MM worth of residential and commercial real estate transactions. 

 

A.J. has a degree in Economics from Duke University and an MBA from DePaul University.  

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