Morning Minute: Licensing landlords can drive up local rental costs

Mandatory crime-free housing programs, especially those that include components such as licensing and inspections can result in increased housing costs, Sharon Gorrell, housing policy advisor for the Illinois Association of REALTORS®, told the Naperville Area Chamber of Commerce this week. The city of Naperville is considering possible measures, and when asked about unintended consequences, Gorrell pointed out that increased costs to the property owners and renters could occur, which then reduces affordability. Read media coverage of the chamber’s meeting from the Naperville Sun.

In other headlines:

Freddie Mac: Mortgage rates finally drift back above 4% – HousingWire

Local foreclosure sales fall to lowest level since 2011 – State Journal-Register

Foreclosures Further Fade Away – NAR Daily Real Estate News

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