-- 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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Folks, there’s a reason you could buy houses in Detroit for a dollar and Brandon is gonna make it happen in Chicago too.
Brandon could also offer “40 acres and a mule” to sweeten the deal for these “urban homesteaders”…
They have taxed away your equity in your home. It is only going to get worse. Look out below.
As they should. Voters keep choosing candidates that promise more spending. It’s only natural that those same voters should pay up. You get what you vote for.
AKA “Get ready to take a haircut/get ready to take a bath selling your home”.
Another way of saying this is 88% DON’T drop their price before selling.
Also, asking prices are up in Chicago.
https://www.chicagobusiness.com/crains-daily-gist/chicago-housing-market-sees-asking-price-creep
Another way of saying this is 88% DON’T drop their price before selling.
Also, asking prices are up in Chicago.
Those figures are juked because every delisting and relisting of the same home is considered a ‘new’ listing, even if the delisting and relisting results in a price decrease. It’s a GIGO situation. Talk to the realtors on the ground. Sales volume is down YOY but they blame inventory instead of the weak market with high rates and fewer buyer bidding for handful of reasonably priced homes. I talked to a realtor friend just this week. Super busy during covid, making money hand over fist, but today, barely making enough to pay the bills, he said. Lots of free time.… Read more »