Chicago is an influential city for new homeowners
When looking to purchase a new home, consider the real estate in Chicago, IL. The city was ranked the third most influential city in the United States by Business Insider in 2011, and it continues to provide unique cultural, industrial and entertainment opportunities for its citizens. You may also be able to find affordable housing in the area, as inventory levels remain high and homeownership continues to fall.
According to the Department of Numbers, there was a 3 percent increase in housing inventory in April 2012, bringing available listings up to 41,955. Prospective homebuyers can take their time to survey the homes for sale in the area, making sure the properties they invest in meet their financial needs and standards.
While the United States Department of Labor recently released its latest employment report, housing recovery still seems on the verge of seeing greater success. U.S. employers created 115,00 new jobs in April 2012, bringing unemployment rates down to 8.1 percent, a low that many economists believe had more to do with job seekers leaving the market, instead of more Americans finding work. Either way, jobs are being created, and some are located in the greater Chicago area. Homebuyers may be able to invest in affordable housing in the city and find work, making a move to the area potentially lucrative for many.