Much of the routine trade and investment between China and America is entirely appropriate and in America’s interest. But inserting the Chinese Communist Party into America’s pay-to-play system and its economic development strategy isn’t just crossing a line. It’s a leap into an abyss of stupidity.
Most new in-fill construction (as opposed to exurban new subdivisions) is ‘luxury’ and costs upwards of a million dollars with taxes reflecting this premium. My neighborhood specifically has the smallest lot size of 50×125 selling in the $300,000’s as tear downs, and mcmansion monstrosities arise in their place, costing upwards of 7 figures. No wonder new construction is so low in Illinois, builders, at least for infill, only target one market segment. I can’t speak for the exurban areas, but from what I can tell, they’re still trying to unload the lots from the last bust out far in the… Read more »
I recently saw a new construction property that had taxes double in 7 years from $7,000 to $14,000. It’s for sale of course, the owners doesn’t want to get stuck holding the bag!