Construction Time Again

The housing crash has apparently not hit everywhere. Apartment construction continues at the UI campus, despite the saturation of new apartment complexes in the last twelve years. The latest is detailed here. And then there is Burnham 310, located at fourth and Springfield. In addition to not meeting their construction deadline, there were mold problems in the drywall! The price for living in this building? $827 for a studio, and $2,043 for a three bedroom unit. Evidently someone figured out that Chicago kids are willing to pay Chicago prices. I'm still trying to figure out what housing is being emptied by the availability of this new housing. It's not like older housing is being destroyed-almost all of the housing remains, except for a few old houses. Even my old abode, the crack house, is still there, though they did flip it a couple years ago.