Comment: Better late than never for the Tribune to wake up to this. We detailed the suicidal, impossible situation for the south suburbs three years ago here. Crain’s, too, covered it long ago. The disaster long preceded the tax break backfire discussed in this article.
Comment: “The party is over,” this says. “This is an easy math problem that, unlike the financial crisis from ten years ago, everyone can see coming.” Yeah, well, Illinois ain’t so good with easy math problems.
Despite a real estate market with really short market times that leaves homebuyers scrambling for opportunities the Chicago area’s home prices continue to struggle to rise in line with the rest of the nation.
Get this: “Chief Financial Officer Carole Brown told aldermen the city may sell even more than $10 billion in pension obligation bonds if there’s enough available city revenue to support it.”