Category: Archived

Subaverage Appreciation is Costing Chicago Area Homeowners a Fortune – WP Original

  By: Mark Glennon*   Home appreciation around Chicago is lagging behind national averages. How much is that costing homeowners? Recently released data suggests roughly $12.3 billion per year is being forfeited by Cook County homeowners alone. Here are the numbers:   Start with the total market value of all homes in Cook County (excluding apartments). The most recently available estimate of that total is $348 billion as of 2013. That’s according to a study recently released by the Civic Federation for Cook County only.   Now, how are homes appreciating in Cook County compared to national averages? S&P’s Case-Shiller

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University of Chicago Nobel Prize Winner Eugene Fama on Illinois bonds

“In the short term, they’re OK. In the long term, I wouldn’t touch them. The [state’s] pension liability is much worse than [the reported $100 billion that] people think.”       http://illinoisreview.typepad.com/illinoisreview/2013/12/university-of-chicago-nobel-prize-winner-eugene-fama-on-illinois-bonds.html

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If you want job growth in Illinois, here’s an email you’ll hate – WP Original

  September 17, 2013   In my day job I work with growing technology companies, and I’ve spent a good chunk of my career trying to help grow Illinois’ entrepreneurial community.  Here’s an email forwarded to me by the CEO of a young Illinois company I work with that he received. It should make all of us who are interested in local job growth puke. I’ve redacted the names, but it came from a major West Coast technology company — one of the largest in the world.  They provide technology and services that are key to this company’s growth and

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Illinois tax burden reported up to number 11 compared to other states (before the big tax hike)

According to a report released today by the Tax Foundation and reported in Crain’s, the state tax burden for Illinoisans moved up two notches to make us the eleventh highest among states. However, the study was based on 2010 taxes and does not include the “temporary” 66% increase of the personal income tax and the increase in corporate income taxes that went into effect last year.  Nor does it include the over $200 billion in unpaid liabilities including unfunded pensions, which effectively are tax bills that the state just stuck in the drawer and hasn’t sent out yet.

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