-- Connecting the dots between our economy, government and business --
The price is $395,000 for the Homan Avenue houses.
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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Here’s an article on 450 home being built in NW Indiana. With starter homes in Burns Habor starting at $350gs….where do you think folks are going to choose to buy? $395gs for a prefabed postage stamp home in Englwood? Or Burns Habor?? (https://www.nwitimes.com/news/local/article_1620d07e-aae5-4af3-a54c-a062e5d10226.html)
Just posted that story. The answer to your question is clear.
At those prices people will keep them up. They have a stake in them
How is this program able to purchase property, construct and sell home for $395gs (still not affordable) but Brando, with his $1.25 bill housing bond, is building “affordable apts” at $800gs a unit?
Ask Thumbs Down. Perhaps he/ she/ they is in on the gravy train that will be discovered years from now when the new affordable housing will look like bombed out Berlin in 1945.