Steve Grzanich has the business news of the day with the Wintrust Business Minute.
Chicago ranks high in home affordability, according to a new report. Online real estate marketplace Redfin ranked cities based on how much income a buyer needs to afford a median-priced home. Chicago has the second-lowest income needed among the 10 largest U.S. metro areas. A Chicago buyer needs a household income of $91,400. Philadelphia has the lowest at about $75,000. Chicago’s ranking comes despite declining affordability. It took 26% more income to buy a median-priced home this year compared to last year.
Also, Chicago-based United Airlines is projecting a fourth-quarter profit that’ll fall short of analyst expectations. Listen for more below: