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.
How’s the bed you made feel, Chicago? The rest of us are shocked that your very good intentions and self righteousness aren’t enough to hold the fabric of society together.
Can you guys do some research into the amount of new listings in the loop vs another period of time with similar mortgage rates and demand? I just did a zillow search for homes on the market less than 3 days where the north boundary is Oak Street, west boundary is the dan ryan and the south boundary is Roosevelt and it’s 178 properties. No min/max on price, beds, baths etc.
That’ll tell the real story if folks are fleeing.
I think it will be a month or two before meaningful data are available on the market impact. Start watching average time on the market.
This should do wonders for tourism.