Opinion Chicago’s rebound is in deep trouble. Here’s why.

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(Bloomberg) — By many measures, the city of Chicago, the third most populous in the U.S., is doing well. The city’s well-diversified economy has bounced back from the lost decade of the Great Recession, in terms of both output and employment levels. Meanwhile, the city hasn’t seen the kind of dramatic rise in housing costs suffered in many other cities: average rent is lower even than in sprawling Los Angeles, and housing is still a buyer’s market.

Perhaps partly for that reason, companies are moving to Chicago: Caterpillar Inc., for example, is shifting its headquarters from Peoria in central Illinois, […]