-- 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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Don’t forget to mention the 127 affordable housing apartments incorporated in Related Midwest’s 400 Lake Shore project, a 1.1 million SF “mixed-income” residential high-rise building, now under construction at Grand/LSD at former Spire site. No multi-million dollar condos here.
Don’t worry, this market will spark right up once Mayor Johnson starts converting some of the buildings in the financial district to high rise low income housing.
I’m retire (hopefully), but used to be indirectly employed in the Chicago area housing industry. Very complicated subject, but one thing for sure Chicago metro area & state of Illinois new housing unit construction (rental or homes) is absolutely anemic compared to booming south (TX, FL, NC, SC, GA) and mountain states like Utah. from US Census 2023 YTD EXCEL SP—New Privately Owned Housing Units Authorized, (https://www.census.gov/construction/bps/msamonthly.html ): Chicago metro just 14,821, Huston metro 68,336, Atlanta metro 38,589, Dallas metro 66,557…etc. and any med sized city in Florida completely kicks are ass!!! or from 2022 this site (https://ipropertymanagement.com/research/housing-starts) showing housing… Read more »
Here’s neighboring states kicking are ass for housing unit starts by end of 2023 all with smaller, some with a fraction of Illinois population (https://www.census.gov/construction/bps/statemonthly.html)
A complete political embarrassment
Who wants to live next to single parent homes of POC? I grew up in Woodlawn/South Shore during the 60’s with the Black Stone Rangers and I certainly do not. Why did the CTU establish Uplift HS in the Loop and establish a foothold for black gang violence? Was it to bring it part of Obama plans to bring pain to the white areas and destroy the financial district? Forty-five years the Loop was a nice place to visit on the weekends but now inhabited by unruly “youth” screaming in Ebonics.
Buy a downtown condo and get these added benefits, custom carjacking, call a mugger,
Beautiful view of democratic riots, LaSalle
Conversion condos dragging down prices,
Added parking only 50,000 extra, take a walk down Michigan Ave, soon to be called
Shaka Zulu Ave., see all of the empty storefronts. Hurry they are selling like hot
Cakes.
How right you are……used to go downtown alot………now i don’t dare!! Need a body guard and bullet proof car……………………..