Moving to IL - is there any future? (Chicago, Rockford: rentals, crime rates)

[ram2]

Originally Posted by mwj119

You mean Illinois Dems.

In other parts of the country, there are wildly popular/successful democratic States.

Ever been to the Democratic failure called Detroit?

[flamadiddle]

Originally Posted by ram2

Ever been to the Democratic failure called Detroit?

you can get a nice home there for around $10K. Grill is negotiable. Life Insurance is highly recommended.

https://www.zillow.com/homedetails/9...8513484_zpid/?

[Hiruko]

Originally Posted by RisingAurvandil

That's on you. You've had 20 years to find greener pasture. Giddy-up.

Sure, you are correct about the tax increases. But that's been the game for a long time and I know I have two options: accept it, or move on. That's on me.

I'm in my 20s...the tax burden isn't enough for me to move. That being said, you don't have your finger on the pulse of people in Illinois if you think that most people here are ok with the fiscal and tax situation. We have more outward migration than just about anywhere else in the country.

[Curly Q. Bobalink]

Originally Posted by Hiruko

I'm in my 20s...the tax burden isn't enough for me to move. That being said, you don't have your finger on the pulse of people in Illinois if you think that most people here are ok with the fiscal and tax situation. We have more outward migration than just about anywhere else in the country.

You sure aren't the average 20-something, I had you pegged for being at least ten years older for the quality of your writing and depth of knowledge. Obviously, if the system is treating you well economically, there's no reason for you to flee it. My own concern is that the area is reaching some kind of "tipping point" where the number of people who say "This simply isn't worth it anymore" rises exponentially, and there's a rush for the doors. Maybe it's the relative decline of the country as a whole that will prevent this ("Whattya gonna do, go to NYC or Seattle?"). Covid, the riots, "work from home" (or maybe even "no work available") has the potential to really hurt the largest cities overall, and especially those that have underlying issues that predate 2020 (hello, Windy City).

This election is going to be extremely interesting. I certainly expect IL to remain an overall blue state, and higher-ups like useless Dick Durbin to be safe, but if the residents of Cook don't at least have the brains to get rid of Foxx, there's simply no hope for us. Father Time (and maybe the FBI) will rid us of Madigan, but the voters are going to have to do the heavy lifting to 86 Foxx, Preckwinkle, Lightfoot, etc..

[ChicagoDavid]

Originally Posted by Curly Q. Bobalink

You sure aren't the average 20-something, I had you pegged for being at least ten years older for the quality of your writing and depth of knowledge. Obviously, if the system is treating you well economically, there's no reason for you to flee it. My own concern is that the area is reaching some kind of "tipping point" where the number of people who say "This simply isn't worth it anymore" rises exponentially, and there's a rush for the doors. Maybe it's the relative decline of the country as a whole that will prevent this ("Whattya gonna do, go to NYC or Seattle?"). Covid, the riots, "work from home" (or maybe even "no work available") has the potential to really hurt the largest cities overall, and especially those that have underlying issues that predate 2020 (hello, Windy City).

This election is going to be extremely interesting. I certainly expect IL to remain an overall blue state, and higher-ups like useless Dick Durbin to be safe, but if the residents of Cook don't at least have the brains to get rid of Foxx, there's simply no hope for us. Father Time (and maybe the FBI) will rid us of Madigan, but the voters are going to have to do the heavy lifting to 86 Foxx, Preckwinkle, Lightfoot, etc..

Haha No he’s not. I did the same.

I’ve yet to meet a person that moved away due to taxes. I hate taxes but I lived here btching n moaning. My reason for the move is weather and new opportunity. I am taking a big risk but I can’t stand the bad traffic and the weather anymore. People I know moved because of weather or new jobs.

[ChicagoDavid]

At least I think it’s he...if not, sorry!

[dtcbnd03]

Originally Posted by Kluch

I echo these comments. We left the chicago suburbs last month after only living there for about 2.5 years. We actually moved from Nashville to Chicago to be closer to family (Nashville has blown up in recent years but that's another story).

Nashville must be exploding! I posted in another thread about how a good friend of mine and his boss at work are both moving from burbs (Elmhurst and not sure other) to Nashville 100% to escape Illinois taxes. Just spoke with another good friend of mine in Naperville and two of his neighbors are doing the same thing. All are in their 30s. All mostly cause of this fair tax and property taxes.

With covid, the riots, remote work and this fair tax...2020 is finally becoming the perfect storm with less talk and more action where people are picking up and moving outta IL. We'll see when census numbers come out...

[Kluch]

Originally Posted by dtcbnd03

Nashville must be exploding! I posted in another thread about how a good friend of mine and his boss at work are both moving from burbs (Elmhurst and not sure other) to Nashville 100% to escape Illinois taxes. Just spoke with another good friend of mine in Naperville and two of his neighbors are doing the same thing. All are in their 30s. All mostly cause of this fair tax and property taxes.

With covid, the riots, remote work and this fair tax...2020 is finally becoming the perfect storm with less talk and more action where people are picking up and moving outta IL. We'll see when census numbers come out...

Ya, it's crazy how many are moving to the Nashville area. My wife and I got tired of the insanity there (different type of insanity than illinois obviously). No income tax was great. But the COL was skyrocketing a few years after I moved there. The traffic is as bad as chicago and the crime had increased significantly during our time there (we had our car stolen). That said it's still a super cool city for a number of reasons, but we got tired of the 800 plus people moving there daily (true statistic).

[Curly Q. Bobalink]

Originally Posted by Kluch

Ya, it's crazy how many are moving to the Nashville area. My wife and I got tired of the insanity there (different type of insanity than illinois obviously). No income tax was great. But the COL was skyrocketing a few years after I moved there. The traffic is as bad as chicago and the crime had increased significantly during our time there (we had our car stolen). That said it's still a super cool city for a number of reasons, but we got tired of the 800 plus people moving there daily (true statistic).

I've got a buddy who wants to retire in TN, but not in Nashville, he wants to go further east. He's lobbying for me to join him, and although I'd like the warmer winters, am not a fan of the significantly higher summer humidity and annual rainfall. One more place to check out, I guess. Personally, I'm leaning toward southern Utah or western Idaho, but apparently so is everybody else, home prices in Idaho are going nuts, LOL. Same thing with Nashville, or so I've heard.

There are a million articles and videos about "States people are fleeing", but it's a very complicated subject, and conclusions are hard to draw because everything works in such slow motion. The attraction for certain areas is undeniable (look at the growth of Florida and Arizona over the past three or four decades).

Since states don't actually ask people their reasons for moving in and out, no one knows for sure, so onlookers are forced to draw their own conclusions, and political biases often creep in. For me, I resent IL's ultra-high property taxes, the resultant hit that has had on property value appreciation, the deep-Blue state politics and longstanding corruption, the 30 year mismanagement of state finances which has allowed an unsustainable level of debt, and yes, now that I'm retired (like almost everyone else) want to have less snow to deal with. Actually, the lagging property appreciation is now a reason to STAY in Illinois, since a comparable home most anywhere else has appreciated much more quickly than mine has, and even with the high taxes, moving won't provide the financial benefit it would have ten or fifteen years ago. For instance, when my Dad passed a couple of decades ago, we sold his home in west-central WI for a about half of what I purchased mine for at the same time in the south suburbs - now, I'd be lucky to trade mine for his - lovely. Why? His area became more desirable; mine - not so much. Also, I would guess his real estate taxes are half of what I'm paying. Plus, it used to be a positive to live near Chicago. Now, Covid and BLM has turned that positive into a negative - will that negative go away, or intensify in coming months and years?

[dtcbnd03]

Originally Posted by Curly Q. Bobalink

Actually, the lagging property appreciation is now a reason to STAY in Illinois, since a comparable home most anywhere else has appreciated much more quickly than mine has, and even with the high taxes, moving won't provide the financial benefit it would have ten or fifteen years ago.

This is not a good way to look at it financially. A homeowner ALWAYS wants property appreciation because inflation and maintenance costs are gradually eating into that "investment". My parents have lived in Rockford 25 years and their home is worth about the same as what they bought it for back in 1995. And yet they've updated the kitchen, baths, basement, roof, siding, yard, etc. and keep it immaculate almost as a hobby. That's money down the drain with no property appreciation. Sure they enjoy the house but financially it's a complete waste. Had they lived in Nashville they could have cashed out refi'd the property and retired earlier or used that equity to buy their dream lake house. In Illinois we're using our wage growth to pay for tax appreciation instead of property appreciation and that's why our home prices are lagging. Moving will absolutely provide you a financial benefit in areas that are appreciating.

Also a primary home is usually not an "investment" without leverage so anyone who has a high interest rate, lots of equity, or their home paid off needs to cash out refinance into a 30 year fixed loan immediately with rates at record lows. But that's for another discussion...