-- Connecting the dots between our economy, government and business --
Summary and audio linked here.
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.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
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When a municipality, state, etc. has anti-landlord laws, there will be less landlords. Less landlords means less rental units. Where then are people supposed to live who, for whatever reason, want to or have to rent instead of own?
Paul Arena, director of legislative affairs for the Illinois Rental Property Owners Assn., said Illinois is not landlord-friendly, so fewer are remaining in the industry.
“The state legislates us like they’re angry at us, like we’re a constant problem and a nuisance, so there is little regard given in the state legislature for the point of view of the small housing provider.”
from The Center Square article by Kevin Bessler entitled Illinois housing officials mull over the wave of migrants and the lack of housing.
As someone smarter than me regularly says on the radio, the communist isn’t necessary a very bright person. They are just angry degenerates who want to destroy. They usually just want to destroy whatever is in front of their face. They see something, they want to destroy it. They see the mom and pop landlord and want to destroy them, much like of Brezhnev’s comment to Nixon during the Moscow trip that he believed all shop keepers were thieves. This Low IQ alderman hates his previous landlord for getting evicted and now he wants to destroy them, like a small… Read more »
Landlords, especially the mom & pop types that live in one unit and rent out the other will eventually become as rare as a dodo bird sighting in Illinois.
The flip side of the stampede out of Illinois commercial, residential, and rental real estate will be a dearth of buyers; a financial hot potato.
Living in Evanston, this is the kind of socialist crap we’re continually bombarded with… also, it’s *especially* amusing that Deadbeat Alderman Reid is behind this, as he has been evicted *twice* by Evanston landlords in the last few years… you CANNOT make this stuff up…!!!
“Reid claimed that the ordinance would simply correct a power imbalance that now favors landlords.” So this isn’t really isn’t about helping tenants at all, it’s about destroying landlords, “simply” in the name of correcting a power imbalance. This guy just hates ‘the system’ and he wants to destroy it without thinking of any second order effects, about how and why landlord/tenant laws and rules have developed over millennia, probably even longer. This guy doesn’t compare and contrast various landlord and tenant laws throughout the country or even the world, and what protections tenants have in other places. No, Ald.… Read more »
Residential landlords strive to retain “good tenants”, even if their rents are below market-rates, because it’s so so hard to find “good”, meaning credit-worthy payment-reliable quiet tenants who respect both property and neighbors. Landlords can lose their residential apartment buildings if there’s documented drug-sale activity occurring in any unit, by any tenant or non-tenant, and yet constrained from evicting law-breaking tenants, or delinquent tenants, or otherwise poorly-behaved and/or destructive tenants. Landlords’ other tenants and nearby neighbors are apparently required to suffer through the inconvenience, and often genuine stress, of living next door to “bad” tenants. Again, extreme restrictions on evictions… Read more »
Sell the building while you still can.