"While joining politically motivated lawsuits over rent pricing software might make politicians feel good about themselves, they will do little to reduce the cost of rent. If our leaders were serious, they would focus instead on removing barriers such as restrictive zoning, excessive red tape, high taxes and outdated housing policies."
High property taxes are mostly to blame for high rents especially here in Rockford. Around 50% of my rent goes to property taxes and I have not yet received the new tax bill. Most of my bill goes to the school district-community college and pensions with no end in sight. The only saving grace is that property values are going up due to very low inventory and not much new construction so I will wait it out just a little longer.
debtsor
1 year ago
These certainly contribute but housing costs are a problem nationwide. We are in housing bubble 2.0 which is larger than housing 1.0.
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
High property taxes are mostly to blame for high rents especially here in Rockford. Around 50% of my rent goes to property taxes and I have not yet received the new tax bill. Most of my bill goes to the school district-community college and pensions with no end in sight. The only saving grace is that property values are going up due to very low inventory and not much new construction so I will wait it out just a little longer.
These certainly contribute but housing costs are a problem nationwide. We are in housing bubble 2.0 which is larger than housing 1.0.