-- Connecting the dots between our economy, government and business --
The prices of some aging office towers in places such as New York and Chicago have already fallen by about a quarter as potential buyers struggle to land financing with interest rates rising fast, brokers and lenders say. Defaults are starting to move up from low levels. As with bonds or any other income producing investment, real estate values fall when interest rates go up.
With $162 billion more from taxpayers, couldn’t you deliver a few bond upgrades, too
A largely unasked question is becoming glaring: Is Illinois doing all it should to use artificial intelligence to make government cost less and work better? So far, the evidence says no.
Everybody needs a side hustle these days, and mine is Ukraine, where I am now.
Summary and audio linked here.
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Audio and summary
Downtown is dead unless the tutsoonery can be brought under control.
“As with bonds or any other income producing investment, real estate values fall when interest rates go up.” If people can understand and believe this concept, it should be easy to relate to the analog of property tax rates. As with bonds or any other income producing investment, real estate values fall when PROPERTY TAX RATES go up. Property tax rates are like a variable (fluctuating)interest rate applied annually to full value of the real estate. In Woodstock IL, property tax rates have ranged between 3% and 5 % for a decade, currently 3.6% . Property values are according suppressed.… Read more »
When the tide goes out you’ll find out who’s been swimming naked.