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Individual towns and cities could decide the statewide ban on rent control no longer applies to them — that is, if legislation proposed in Springfield passes. While statewide efforts to lift the ban move slowly, “it makes a lot of sense to empower local communities to make the decision themselves if they should opt out of the current ban on rent control,” said state Sen. Mike Simmons, whose 7th District covers the lakefront from Rogers Park to Wrigley Field.
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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Landlords will be prevented from increasing rent, but nothing will prevent the increase in the landlord’s costs (taxes, utilities, etc.). The only options for small, independent landlords will be to cut back on maintenance (and risk becoming a “slumlord”) or sell their buildings to the big guys.
From what I read was that people are angry that people are moving into neighborhoods, fixing up the properties and naturally rent rises as the neighborhoods become better places assuming that what gentrification means. Better neighborhoods mean higher rents so I surmise that the people for rent control don’t want to live in an improved neighborhood.
Can my town vote to opt out of paying state income taxes?
Progressives at their most moronic.
Rent control has failed everywhere it’s been tried — the definition of insanity is doing the same thing over and over, and expecting a different result
Has it? Depends on your perspective. From the viewpoint of a communist, it’s a rousing success. Rent control in New York is apparently a success to these people, while the rest of us search for non-rent controlled properties and pay an average of $5,000 a month.
https://thehill.com/opinion/finance/573841-theres-no-denying-the-data-rent-control-works/
We both know what rent control doesn’t work but it is one of the limited tools that local municipalities have to ‘control’ inflating rent prices. Local communities have no control over inflation, or the Fed sending the value of the currency to zero, and they can’t stop any one of the 20 – 30,000,000 or so illegal immigrants from moving into their community, and each town has little control over the local real estate bills, becuse it’s the county and schools and park districts that comprise most of the bills. So low information voters look to their part-time alderman and… Read more »
Every communist should have the same career climax as their idol, Che Guevara — shot by a firing squad and body dumped in the jungle
Spot on Giddy. If rent control is such a good thing the left should push for gasoline control and food control and…….
They will.
Nixon, in the 1970’s, put price controls on the price of gasoline after the Arab oil embargo so the price of gasoline would not rise to it’s market level, which consumers thought was too high. The results were disastrous and it took the deregulation of gas prices by Carter and Reagan to solve the gas crisis that government largely created.