In Q3 2023, the U.S. witnessed a concerning trend in home affordability, with median-priced homes becoming less attainable in 99% of analyzed counties. As homeownership hurdles intensify, the knock-on effect on real estate investing is significant. This article delves into the key findings of ATTOM's report, highlighting the challenges faced by average wage earners, the dynamics impacting housing demand, and the implications for those eyeing real estate investment amidst a landscape of soaring prices and mortgage rates.

Real estate investment presents a promising avenue for wealth growth and portfolio diversification, but it demands thorough research and consideration of potential risks and rewards. A crucial element of successful real estate investing is a profound understanding of the local market, encompassing factors like median home prices, rental rates, and vacancy rates. Equally vital is a keen awareness of the local economy, growth drivers, and challenges, with property location playing a pivotal role in potential appreciation and rental demand.

Ten months into 2023, office-using jobs declined year over year, even though the Chicago area recorded more jobs than it lost. The expansion of the area's employment base was mostly tallied within the nonoffice employment sectors.