Tuesday, May 28, 2019

High Taxes and Government Debt Have Soured Chicago’s Housing Market

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High Taxes and Government Debt Have Soured Chicago’s Housing Market:

  • High taxes and government debt have soured buyers on Illinois and the nation’s third-largest city.

"In early 2012, Chicago mayor Rahm Emanuel warned residents and local politicians that, unless the city, along with the state of Illinois, started tackling its deep pension problems, “You won’t recruit a business, you won’t recruit a family to live here.” 
Seven years later, as Emanuel exits office, it’s becoming clearer what he meant.
A few months ago, Realtor.com predicted that Chicago would have the weakest housing activity this year among the nation’s top 100 markets..."
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