-- 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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Would like to add that renter application fraud is at an all-time high. That means a potential tenant may steal someone else’s identity when they apply for an apartment. So a small landlord or a large corporation has to watch out for fraud in addition to paying for a routine screening and background check.
Small landlords are disappearing. Who wants to invest in a crime-infested city with crushing property taxes? Two-flats used to be the affordable signature housing of Chicago. However, it is too dangerous to be a live-in owner. Not worth it. My parents owned and lived in a 2-flat for 10 years before they bought a single family home in Chicago. Nobody would want to do that today. Tenants and squatters have all the rights. Property owners have all the responsibility and no rights. Big corporations need to charge a high rent. They need to pay maintenance people and property managers, landscapers… Read more »
COVID eviction bans bankrupted landlords — reducing the supply of rental housing — and setting up the rent spikes that have led to….
WAIT FOR IT….
MORE EVICTIONS!!
A classic example of how Marxism fails every time
Just making room for illegal immigrants and the state/city/county/fed govt will pay the rent
People in Chicago don’t pay the rent? Perhaps its a human right to not have to pay the rent in Chicago. Next up Brandon forgives all outstanding back rent debts.