-- Connecting the dots between our economy, government and business --
Around 6,160 new apartment units are expected to be built across Chicago this year, down from roughly 8,970 in 2020, according to a new report.
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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I believe that new apartment construction has moved to the suburbs.
I’m watching it happen all along the commuter rails in lake county. The cities have failed, so those that can are leaving.
Has been the Illinois plan for quite a while.
Search CMAP “Go to 2040”
Between
— high taxes
— over-regulation
— affordable housing confiscation
— astro-turf protesters/neighborhood NIMBYs
— green energy mandates
the idea of building in Chicago is a loser
So is the idea of living in Chicago.