Following a takeover of the U.S. Capitol building on Jan. 6 by a pro-Trump mob, the National Association of Realtors is not ruling out penalties for any of its 1.4 million members that participated in the riot, though the trade group has been quiet on specifics.
At least two Realtors, Jenna Ryan of Frisco, Texas, and Libby Andrews of Chicago, admitted in social media posts to “storming the Capitol” last week in a riot that resulted in the deaths of five people. A spokesperson for NAR declined to tell Inman whether the trade group was aware of any other Realtors participating in the riot.
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Chicago s housing market experienced a jolt as people suddenly fled downtown office towers to work from home when the pandemic struck in early spring. It s unclear just how permanent that change will be. In this interview, Nykea Pippion McGriff, president of the Chicago Association of Realtors and vice president of brokerage services for Coldwell Banker Realty, discusses what she sees happening in the Chicago housing market.
CRAIN S: Are you seeing a reshaping of the Chicago housing market?
PIPPION MCGRIFF: Demand remains high throughout the city. We re seeing an increase in median sales price across both detached homes and condos. When we look at amenities, space has become very important and popular features, both indoors and outdoors because of people needing to work from home, and not only work from home but our children are being educated at home.
Loop condo market worst since mid-2000s crash
There are enough condos on the market in the Loop to fuel 24 months of sales. Four to six months of inventory is typically considered healthy.
Jameson Sotheby s International Realty
Earlier this month, buyers picked up a 23rd-floor condo at the Heritage, the tallest building at the center of this image, for just $5,000 more than the sellers paid for it in 2005.
As 2020 grinds on, giving people reasons to avoid downtown Chicago, the backlog of homes for sale in the Loop has swollen to a size not seen since the housing crash of the mid-2000s.
It looks like a war zone: Minneapolis developers shy away from city projects after unrest and calls to defund the police Print this article
Developers have long had challenges navigating the aggressively liberal agenda of the Minneapolis City Council, but for some, the move to cut police funding was the last straw.
Since violent unrest broke out over the summer, local developer Kelly Doran said he estimates around 10% to 20% vacancies in downtown apartment buildings that had just 2% to 3% vacancies in the last five years. Newer, modern buildings in the downtown area are also at 20% vacancy rates.
As the city grapples with rising crime rates, along with droves of police retirements, and a council vote to reimagine parts of traditional public safety, Doran believes a full economic recovery for Minneapolis will be slow.
All of this is happening during the COVID-19 pandemic and the resulting economic downturn.
Sue Miller, designated managing broker at Coldwell Banker Real Estate Group McHenry, and the 2021 Illinois Realtors president, joined ABC 7 Chicago Sunday to talk about the real estate market and what s driving this growth.
WATCH: Our Chicago Part 2
During the month of October, home sales in Illinois jumped 34% compared to last year.
Tommy Choi, past president of the Chicago Association of Realtors and co-founder; Keller Williams of OneChicago; and Geoffrey Hewings, emeritus director of the Regional Economics and Applications Laboratory at the University of Illinois spoke, as well.