Where is the recession in Chicago? (homes, college, taxes)

[aragx6]

So many stores have closed in Wicker Park it's not even funny -- huge signs on North Ave buildings proclaim "FOUR MONTH'S FREE RENT!"

[jdiddy]

Originally Posted by aragx6

So many stores have closed in Wicker Park it's not even funny -- huge signs on North Ave buildings proclaim "FOUR MONTH'S FREE RENT!"

Same with Damen in Bucktown. Lots of vacant storefronts these days. Although a street like Chicago ave has not only managed to hold onto to all those busineses created in the past 5-10 years, but is still seeing growth. But that's probably because storefront rents never got near as crazy as wicker park/bucktown in the 2000's.

[binarybelle]

The interest rate in my savings account is feeling the recession, that's for sure. It's dropped more than 1.5% in the past four months alone.

[jdiddy]

Originally Posted by binarybelle

The interest rate in my savings account is feeling the recession, that's for sure. It's dropped more than 1.5% in the past four months alone.

Tell me about it. I opened a new savings account about 6 months ago that was over 5% since my bank had basically ceased providing interest. But last I checked, I think my new bank's interest rate was back under 2% as well.

[Costa Rica Chica]

It's hard for me to feel it because I moved back to the US right when this mess started and have been used to living modestly in a third-world country, so by comparison - it's a much more comfortable lifestyle here. I do know people who have lost their jobs and are struggling.

[knitgirl]

I was unemployed from the end of June last year until April this year. I ended up going back to mortgage processing which I hadn't done in 3 years. I am paid strictly on the number of files that close and fund, not making the kind of money I used to when I had a base salary plus a production bonus. I am seriously in debt from all those months of unemployment. I was lucky enough to get health insurance May 1st (the boss's wife is a Dr., so he feels very strongly about people having health insurance). I was in the hospital for 3 days right after that for something that is pretty minor, but I am still going to end up paying 2-3,000 for my share of the bills. Interest rates have skyrocketed recently so we haven't gotten any new applications. I may be out of a job again by July.

[cdubs3201]

I work in Transportation and I definately see the effects. When the November market crash happened I definately saw it. Things have picked up a little lately, but it seems like every other month is good/bad.

I've tried finding a new job (my current job has a weak commission plan) but I'm losing out to other people. I feel my resume is very strong, I get a lot of calls, but they're either really shady companies or I lose out to someone else somewhere in the interview process.

I too have thought of joining the service, but I don't know if my body can handle basic training, I have bad tendons due to genetics. I've wanted to take a vacation but can't afford it obviously. My newly greatest idea of all time is that I'm applying to resorts and hotels that are in vacation spots. That way I can work there, and on my days off it'll be like I'm on vacation. :-)

[RichMonk]

When I started college in 2003 there were all kinds of jobs for my field in physics. I had originally switched from engineering to physics b/c I loved the field and saw plenty of entry-level opportunities for people with a BS in physics. Come graduation time in 2007 the Bush (and to some extent, Clinton) Administration's blatant disregard for the basic science sector became a reality for me. Having lost major national research bids (the LHC, ITER and several others) science jobs have mostly been going to European and Asian countries. Couple that with the recent economic downturn and you also have the private sector putting hiring freezes on R&D. I've been competing for these entry-level positions with scientists who have years of experience and/or advanced degrees.

However, I do think things are starting to turn up for us science folks. Hopefully (fingers crossed as much as they will cross), Obama will fullfill his promise to produce clean energy manufacturing and research jobs. Also, there is a corporation I am very interested in that is, supposedly, lifting their hiring freeze by the end of the year.

On the up side, I am very young, don't yet have much to lose and am getting a consideral amount of help from my family who, except for their retirement funds, is still doing fairly well despite the economy.

[hamh]

Originally Posted by coldwine

I can't speak for anyone else, but I find it deeply disturbing how Jesse always seems to mention his parents and their questionable mortality.

Totally agree, feel like there are always cockroaches in the city which only know how to consume but not produce.

[quadrokeith]

I was seeing the recession before and am feeling it now. Between November and January I saw probably 8-10 good friends and/or coworkers laid off. As of a few weeks ago, I'm on an 80% reduced schedule at work. I'm in business/technology consulting and we're seeing plenty of interest, but companies are not ready to pull the trigger and commit to these projects... lots of deals sitting in the pipeline and stretching it out. So I'm only taking home 80% of my base salary and we're not getting salary adjustments. My fiancee is in the marketing department at a hospital, she is full-time, but her company has also instituted a salary freeze.

Hopefully some of these companies start spending again and I'll get back to working full time.