Crain’s residential real estate reporter Dennis Rodkin joins host Amy Guth to discuss the latest from the local market, including how Chicago home sellers are poised to profit while pandemic boomtowns face losses.<br><br>Plus: CME Group’s Terry Duffy to step down from CEO post next year, Justice Department joins challenge to Evanston’s reparations program, Rivian cuts hundreds of jobs days after launching new EV model and federal appeals court says retrial is on the table for two of the &quot;ComEd Four.&quot;<br><br>Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

A reversal in fortune for Chicago home listings

Crain's Daily Gist

# Full Transcript

**Podcast:** Crain's Daily Gist

## Participants

- **Amy Guth** (Crain's Chicago Business)
- **Dennis Rodkin** (Crain's Chicago Business)
- **Dennis Rodkin** (Crain's Chicago Business)

## Transcript

CME Group's Terry Duffy will step down from the CEO post next year. And I'll talk with Crain's residential real estate reporter Dennis Rodkin about news from the local housing market, including how Chicago home sellers are set to profit while pandemic-era boom towns face losses. For every house in the Chicago area where the seller has to list below the price they paid for the property, there are 25 where people are not doing that, where they are listing at a profit.

Compare that to Austin at the far other end of the scale. If 25 people in Chicago can list over their purchase price, only 3.2 people in Austin can. I'm Amy Guth, and this is Crains Daily Gist for Thursday, June 18th. Looking to expand your business? Ready to turn that 10,000 square foot warehouse into 100,000?

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I'm joined by Crain's residential real estate reporter Dennis Rodkin, here to talk about news from the local housing market. Hey, Dennis, how's it going? I'm doing very well, Amy. What's up with you? You know, here to talk real estate. Tell me about this story that you wrote about how Chicago home sellers poised to profit while pandemic boomtowns face losses.

This is one of the great benefits we are reaping from the fact that during the pandemic, while our market, our home prices rose, they didn't skyrocket. Like those in a lot of what people now call the pandemic darlings or the pandemic boomtowns. Yeah. Cities in Texas, Florida, Colorado. There were towns in Idaho that were boomtowns as well, but they don't figure into this particular report. Anyway, our prices did not go up quite as much as those did.

And one result of that is that our prices have continued to rise. They haven't been sagging in recent years. You and I have talked about this quite a bit. And there was some new data out last week from Parcel Labs, which is another data analytics firm that I follow. That's where a lot of my data comes from is these analytics firms. They were really looking at the places that are hard hit, where a lot of people are listing homes for sale at less than their purchase price.

That's a measure of sort of how things have changed since the pandemic. Your prices went up so high in Austin, for example, that now sellers are having to list at lower than they paid for the house. But when you work your way down that chart to the people who are not having to do that, there's...

A reversal in fortune for Chicago home listings

Transcript

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A reversal in fortune for Chicago home listings

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.