-- Connecting the dots between our economy, government and business --
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 expect “affordable” rental housing to become more and more scarce nationwide. After all, when covid hit millions of landlords found out the hard way who actually owned their properties. Even now it can be difficult to evict a nonpaying tennant. Good luck collecting back rent due from the government rent/evection moratorium. The end result of this covid rent/evection moratorium exercise will be an increased reluctance of landlords and developers to take risks which would increase the supply of rental housing. Many will decide to get out while they still can. Smaller units/flats/spare rooms will be rented under the table.… Read more »
These tenants vote for socialist democrats that institute policies that substantially increase the costs for landlords. Then they complain when those costs trickle down to them. So now their solution is to try to institute more socialist policies.
Amara “Rebel-Betty” Martin complained that she couldn’t rent a two bedroom for less than $1,200. I bet she has no understanding of how much the taxes, insurance and maintenance are on that property let alone the mortgage. Compared to the cost of home ownership $1,200 doesn’t sound too bad.
I can’t blame Amara “Rebel-Betty” Martin for wanting a reasonably priced apartment in middle class city neighborhoods. Who doesn’t want that? When did middle class housing become just another asset class for the Blackrocks to extract their rent from working class folk? Rents shouldn’t be so high that the average person can’t afford. There’s 100 reasons for it above and beyond supply and demand. But to a simple person with a simple mind, like Amara “Rebel-Betty” Martin, the easy answer is rent control. Its an easy, tangible local solution to make her rent cheaper. Of course rent control doesn’t work,… Read more »
They must not have taught home ownership as the way to control rent in CPS. What’s next, boycott the mortgage company that is charging too high of interest rate. They’ll be protesting in the streets to have the Feds payoff their mortgage.
Rent control has been a failure everywhere it has been tried — no wonder Democrats are behind it — it gives the illusion of a progressive win – while keeping poor Black voters in poverty — where they can be manipulated and used for votes every 4 years
Everything Dems do has already been a failure everywhere it’s been tried.
They’re good little communists.
Rent control works for the tenant in the rent controlled apartment. Its a failure for other renters, the landlord, society in general.