Quote Originally Posted by davewindsor View Post
Just curious. At what price range is it impossible to buy in these neighborhoods?
One easy comp is to look at rental rates vs. monthly payments. Right now, prices are at a point where the cost to rent is actually $300-$500/mo. higher than if you were just to buy it yourself. If monthly rent is a stable number, and it's less than cost to own, then intuitively speaking, properties have room to grow.

There's a duplex behind the Mercury Bar in Corktown. 4 total bedrooms could probably rent for $2,000/mo. in revenue. But the monthly expenses come out to $1300-1400/mo.

I'm not one to speculate on the direction of house prices because those are based on so many unpredictable factors on any given day. But I do know that if I can rent out a house for $2,000/mo. and buy it for $1400/mo....I'd do it as many times as I can.