CMAP

Since the housing crisis began, many for-sale single-family homes (SFHs) in the region have become rental units or are now vacant.  This has diverse implications for how the region’s communities recover from the housing crisis and manage a housing stock that has traditionally been owner-occupied.  Recent data from the American Community Survey (ACS), which provides a rolling estimate for the 2007-11 period, estimates that SFH rental units in the region increased by 42 percent and vacant SFHs increased by 126 percent between 2000 and 2007-11.    

The foreclosure crisis left many communities with a dilemma: vacant homes are accumulating quickly at the same time as fewer and fewer people can qualify for mortgages to buy those homes. What can be done with the growing inventory of vacant, abandoned homes? One solution gathering attention is renting out single-family homes, but some communities are wary due to a history with irresponsible landlords, while some investors are struggling to find ways to manage properties effectively.

Rising levels of housing vacancies in metropolitan Chicago suggest both challenges and opportunities, especially for the region’s local governments.  Vacant units may create the need for additional public services to maintain properties while simultaneously contributing less to the local property tax base.  However, vacant properties may also provide an opportunity to pursue infill and redevelopment projects to more appropriately match housing and transportation needs, provide access to jobs, and build on existing infrastructure.

The charge to the Chicago Metropolitan Agency for Planning housing committee is to provide advisory input to the CMAP board on proposed regional plans, projects, and policies by: 
  Read more »

The charge to the Chicago Metropolitan Agency for Planning housing committee is to provide advisory input to the CMAP board on proposed regional plans, projects, and policies by: 
  Read more »

The charge to the Chicago Metropolitan Agency for Planning housing committee is to provide advisory input to the CMAP board on proposed regional plans, projects, and policies by: 
  Read more »

Please join Mercy Housing Lakefront for Moving Forward Together, a special networking event to address the Chicago and Milwaukee regional foreclosure and housing crisis. 500 bank, government, and real estate executives are expected to attend.
More information and registration
 
3:00 – 4:00 p.m.  General Networking Reception
4:00 - 6:00 p.m.  Program Read more »

The charge to the Chicago Metropolitan Agency for Planning housing committee is to provide advisory input to the CMAP board on proposed regional plans, projects, and policies by: