-- Connecting the dots between our economy, government and business --
More homeowners in the Chicago area ended last year seriously underwater than in any other of the nation's 10 largest cities, a report shows.
At the opposite end, Chicago had the second-smallest share of homeowners who own the majority of their home's value, rather than the lender being the majority owner, according to the report, from Attom Data Solutions.
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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