-- 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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What will we do when those flooded out of Miami and NYC show up at the Chicago Greyhound terminal? Presumed American citizens who can vote in state elections.
Zoning laws are already under assault and economics favor multifamily over McMansions and some in the incoming crowds probably have significant paper wealth and clout. Lawyers even!
Not that I think Illinois politicians are looking beyond the next election. But the future is rushing in on hooves rather than little cat feet.
What a joke how’s about going to Barrington or Lombard, Naperville and wanting Sec. 8
housing. Buy just the land and your looking at north of a million bucks. I am sure the neighbors
would love seeing, drug buys, garbage and
riff raff in the neighborhood.
it will never happen no matter how many stupid laws those bozos pass.
Left unsaid is that there is affordable housing in many places, just not in the specific town one might prefer or hope to live. We live where we can afford to and work toward what we aspire to. No one owes us the right to live where we can afford. Using Oak Park as an example, its affordable housing exceeds many standards for % of the housing units being affordable. 40% of the housing units are apartments. Both its school districts spend like drunken sailors and fuel skyrocketing property taxes while the same decision makers, oblivious to the effects of… Read more »
You want affordable housing? Then let the free market work. Government needs to get out of the way with the onerous codes, permitting and graft.
That’s right burbs. In order to keep up with the Marxist mandate of free/ cheap housing for all, get on the stick and start knocking out that Section Eight housing you don’t want that will be destroyed and need to be rebuilt in +/- 5 years. “So it written, so it shall be done !” say your overlords from their gated communities and mansions.
A story about “Affordable” housing, and the lack thereof: I checked Zillow to confirm the annual tax amount for the last house my Mrs. and I owned in Will County. It is a “McMansion”, 4 BR/3 BA, about 2,900 Sq. Ft. $15K/Yr taxes now. Then I thought about the other house I owned in Will County before I got married. It was a “starter home”. 3 BR/1 BA ranch (And that’s not a typo. It had literally ONE bathroom. No 1/2 baths anywhere), depending who was selling it, 1,300 – 1,500 Sq. Ft. (Zillow says 1,300). Almost 30 years ago… Read more »
My $134K home (35 years ago) is now $650 in Redfin (a much better estimate) and Zillow well over 700K but Zillow is always way high.
Who’s buying them, a multitude of people pitching in with 7 or 8 people in a 3 bedroom home. 5 or 6 cars on the street.