U.S. home ownership rates drop to lowest level in 48 years

You found one of the cheapest bungalows (not what most people think of as a conventional Chicago bungalow, even) and the local assigned schools are rated 3, 7 and 7, meaning in the bottom 30% and 70%. It’s 18 miles from the center of town, and public transportation (not including connecting buses or other routes, or even waiting) takes over an hour to get to the center of town. And guess what? People still live there. It didn’t become a ghost town after you moved away. They just work 3-4 jobs to pay the rent/mortgage now.

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I doubt if the schools were any better when I lived there, (although the parents may have been more involved in their kids’ education, which is always a key element) Class sizes were big and teacher pay was low. I didn’t lose too many brain cells.

And, the travel time from the 119th Street station (about 1/3 mile from this house) to LaSalle Street is about 35-40 minutes. Not any different from when I rode the Rock Island Line on the same tracks.

Is “chgoliz” just a random nym, or do you live in Chicago?? If you consider anything other than the likes of Logan Square or Ravenswood to be beneath your standards, I can well imagine that the working class neighborhoods on the far south side would cause your nose to wrinkle.

(Edit) For a couple each of whom is working 40 hours a week at $10 per hour, the mortgage service on this house would be less than 16% of their gross. So please, with the “3-4 jobs a week to pay the mortgage”, give it a rest?

I live on the south side in a neighborhood that is rated much lower than the one you’re using as your example. Nice try, though.

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This. My house was originally bought in 1923 by a pipefitter for Standard Oil, who had two kids and a wife who didn’t work.

Now both my spouse and I work and it’s on the low end of the market in our town.

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You’re making a lot of assumptions in that claim that aren’t based on how average families (and their employers) juggle minimum wage jobs and expenses.

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Wait, Logan Square is hip now? I knew I just had to wait 20 years. I do miss that $300 a month rent though.

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