Print FriendlyIllinois Gov. J.B. Pritzker (D) signed a bill into law Wednesday that prohibits landlords in the state from evicting residents due to their immigration status, the second state in the nation to do so. The law, which passed with bipartisan support through the state legislature after a broader version was vetoed by former Gov. Bruce Rauner…
Print FriendlyThe U.S. is in the throes of a housing affordability crisis. Rents are rising and demand is increasing, all while incomes stagnate. Why not simply build more apartments? It’s not that simple. Alongside rising rents and demand, the cost of development has increased, too. The price of materials and labor have risen by 57 percent…
Print FriendlyA New York condo owner is accusing of splitting his Lower East Side apartment into an illegal duplex. But rather than adding walls, he reportedly lowered the ceiling and divided the unite horizontally into two cramped floors. The ceilings were just 4 1/2 feet high, forcing the nine tenants to crouch or even walk on…
Print FriendlyBALTIMORE — Tens of thousands of rental units in Baltimore City should be licensed and inspected to ensure renters have safe and healthy living conditions. A recent law aims to make that a reality. The 11 News I-Team first visited a house on Poplar Terrace in January. It was a mess from the outside in….
Print FriendlyCHICAGO — Two tenants have filed a class action, accusing their landlord of failing to provide tenants with a document explaining their rights under a Chicago ordinance governing landlord-tenant relations. Plaintiffs Natalie Farhat and Magida Farhat filed suit July 22 against a Chicago apartment building owner in Cook County Circuit Court. According to the class action…
Print FriendlyA new Urban Land Institute report delved into the effects of extreme heat and how it will change real estate in the U.S. Extreme heat is becoming a growing concern for U.S. cities due to a combination of climate change and continuing urban development. By the end of the century, a majority of states will…
Print FriendlyThe Las Vegas City Council’s decision this past week to use state bond funds to construct an affordable housing project is a needed step for the community. The $22.68 million in bonds go toward a $95 million multifamily housing development that will include 420 units, of which 386 will be offered below market rate. The…
Print FriendlyWith home sales down and an almost inordinate amount of new multifamily development, it should come as no surprise that rental units and properties are high in demand. According to a recent report from Capital Economics, the slowdown in home sales is feeding the demand for rentals. “Alongside solid earnings growth that helped drive the CPI measure of annual rental growth to…
Print FriendlyThe New York metro area has been increasing the number of construction jobs it’s added each year since the recession of 2008, but the number of permits issued for new housing units has not quite bounced back. In that time, the New York–Newark–Jersey City metro area has added 864,574 construction jobs but issued permits for…
Print FriendlyThe housing inventory plaguing many markets across the country is bad news for both homebuyers and investors alike. While homebuyers are reluctant to let go of their single family home dream (the detached single-family home made up 82% of all homes purchased, according to research by the National Association of Realtors), from an affordability perspective,…