A decade after recession, Illinois’ construction industry is ice cold – IL Policy

In 2018, Illinois saw 10,000 permits issued for new single-family homes, according to the U.S. Census Bureau. The state averaged around 40,000 permits a year prior to the Great Recession. That 75% plunge is the worst decline of any state in the nation. Indiana, Michigan, Wisconsin and Missouri have all seen more single-family home construction than Illinois for three years running.
6 Comments
Newest
Oldest Most Voted
Inline Feedbacks
View all comments
DantheMan
4 years ago

I cringed when my friend told me his young son just bought a home in Illinois. I wanted to say, “I’m sorry to hear that.” Instead I just smiled and kept my mouth shut. You see, I’ve learned that many Illinois residents, including family and friends, don’t want to hear the dismal facts about Illinois. They would prefer to blindly hope that things are under control. I’m sure they think that if things were really so bad that the media would be screaming every day about it. They have busy lives and probably never heard of sites like Wirepoints.

mqyl
4 years ago
Reply to  DantheMan

Similarly, I know of a young couple, recently married, who had a big house built in Oswego. They’re not aware of the property tax abuse in IL. Wait ’til they see their property tax bill after the full assessment kicks in.

I also agree with you that there are many IL residents who don’t want to hear the dismal facts about IL (or are unaware of them or are among the deniers). They’ll be the last to leave. I guess they’re waiting until their property tax is 5-10 percent of their property value.

Rick
4 years ago

Why build a new house when property values are declining? Also the up front and add on costs of new comstruction, put in a lawn, put in trees and shrubs, decorate, refinish basement, etc. All things you don’t have to spend on a used home. Then the property taxes, towns love to overtaxed those new homes for all the hookups and new clueless residents. The best strategy for anyone needing to stay in Illinois is to downsize because the bigger depriciations will occur in expensive homes.

NB-Chicago
4 years ago

No articale attached??

Freddy
4 years ago
Reply to  NB-Chicago

I went to Illinois Policy.org directly to read the story.

SIGN UP HERE FOR FREE WIREPOINTS DAILY NEWSLETTER

Home Page Signup
First
Last
Check all you would like to receive:

FOLLOW US

 

WIREPOINTS ORIGINAL STORIES

Chicago needs more champions of literacy like Willie Wilson – Wirepoints

It’s rare to see city leaders in Chicago take an open, unabashed stance on the collapse of literacy. To complain is deemed as too political, too racist or too anti-public schools. So it’s refreshing to see Willie Wilson, a successful businessman and leader of the black community, call for a literacy initiative “with the goal of getting 100% of Black students reading at grade level.”

Read More »

WE’RE A NONPROFIT AND YOUR CONTRIBUTIONS ARE DEDUCTIBLE.

SEARCH ALL HISTORY

CONTACT / TERMS OF USE