For Pensions, Valuing Real Estate Is Tough. Covid-19 Brings New Hurdles – Wall Street Journal

Comment: Refreshing candor from Chicago Teachers’ investment chief Angela Miller-May. “If you talk to anyone who says that they know exactly where the market is going and that they have all of the answers, they really don’t know,” she said.

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Mark Glennon on AM560’s Morning Answer: Chicago pension buyout plan mostly shifts debt rather than eliminating it, property tax surge doubles inflation over three decades

Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.

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