-- Connecting the dots between our economy, government and business --
A landlord subject to the tenant eviction moratorium: "I had to get the boiler repaired to provide adequate heat. At one point, one of my tenants put something down the toilet, requiring plumbing repairs. And there was no moratorium on my mortgage payments, the utilities, insurance, the property taxes. I’ve had to sell off three of my six properties, exhaust my accounts, cash in my IRA and borrow against my retirement."
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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That’s the price you pay for being a landlord and doing business in Chicago and Illinois.
Now if he was a landlord in Indiana he wouldn’t be dealing with this.
Hence why the smart investors and business owners are moving.
While it’s sad to read about this man’s state-inflicted financial suffering, even worse is the children who have committed suicide because of the Dictator’s deadly lockdown. There have been more child suicides than COVID deaths
This must be the equity that the Dictator is ramming down everyone’s throats
This landlord failed the second he decided to own a business is Chicago. All his other problems are a direct result.
Very true! never own property in $ocialist $hitholes! But these people (most landlords) should be redpilled by now but they keep doubling down on stupid.
Just thinking you can make it one more day in Illinois is doubling down.