-- Connecting the dots between our economy, government and business --
The net monthly rent at top-tier apartment buildings in downtown Chicago jumped 6.25% year over year in the first quarter of 2025. High rents are expected to persist over the next few months as the market sees the number of new apartments delivered annually hit a nearly three-decade low.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
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.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
As people have noted, Chicago and Illinois aren’t growing so it’s a good thing that developers aren’t building an over supply of housing. This helps drive up the pricing of existing housing. Now the city can raise property taxes (which takes equity away from the owner) at little risk of people “walking” away from their home. If they don’t want it somebody else will gladly take off their hands. This is no different than the SALT deductions. More money for Illinois residents equals more money available for the government. While I don’t like this outcome, it’s not up to me… Read more »
Seems like a scenario where trying-to-do-good organizations give lower priced rental units to people wandering in across the border, and the rent by default increases on everyone else as those units are taken. Just another financial gift to illegals from the taxpaying citizens of Illinois. Even if outside NGOs are funding it, it still ends up on the backs of taxpayers via healthcare and schools and increased rent to everyone else.
Yikes for Brando: “the smallest number of new apartments to be added to the downtown market in almost 30 years” Meanwhile, one of my 20 somethings was in Houston last weekend and he say there’s construction everywhere. They’re still building even as rents are dropping….no $800gs a unit on the taxpayers dime required!!