Given where Chicago is right now this new stadium proposal is a bad idea and a bad deal – Wirepoints on The Chicago Way with John Kass
April 26, 2024
6 Comments
Ted was on The Chicago Way with John Kass and Jeff Carlin to discuss the proposed $5 billion lakefront stadium project proposed by the Chicago Bears & Mayor Brandon Johnson, why Chicago is struggling compared to other metro areas across the country, why the city might or might not go the way of Detroit, and more.
Some Illinois lawmakers continue to deny that covid aid and other federal stimulus bailed the state out of its fiscal mess. But a look at past and projected revenues from COGFA shows just how much the bailouts blew out the state’s revenues. And now that they’re over, how much harder it will be for Illinois revenues to grow.
Election integrity – both real and perceived – is essential to government’s legitimacy and stability. Illinois, like the rest of the nation, better fix its problems now.
Ted joined Dan and Amy to talk about Chicago’s latest bond offering, why Chicago’s dismal home value growth is due to poor policies, the next $70 million to be spent on migrants, the 9% salary hikes demanded by the CTU, and why Illinois lawmakers voting to stop Chicago’s selective enrollment schools from being closed is hypocritical.
Weekly crime statistics from the Chicago Police Department: Report through 4/21/2024.
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.
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.
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.
No articale attached??
I went to Illinois Policy.org directly to read the story.
Sorry. Link now fixed.