The Keep Chicago Renting Ordinance will head to the full City Council for consideration this week after landing approval from the Committee on Housing and Real Estate on Thursday, DNAinfo reports. The proposed ordinance would allow renters in foreclosed properties to stay there, at least until the mortgage-holding bank sells the home to a third party. Those opposed to the ordinance argue it could hurt property values and encourage squatters, but supporters say the proposal would "stabilize communities." The ordinance passed with some changes to earlier versions and is expected to go before the entire council Wednesday. Stay tuned. [DNAinfo, photo: Keep Chicago Renting press conference in South Austin]
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