Sad (Chicago, Lyons, Atlanta: apartment, renting, house)

[flamadiddle]

But Taco, there are also people willingly moving to the Chicago area. I see it all the time on this forum. I'm a good example. Since I work remote, I can live anywhere in the US and we ultimately chose to move back to the Chicago area. We looked hard at many of the same places you've mentioned and in the end we chose Chicago. Does Chicago/Illinois have a higher overall tax burden than Tennessee? Yes, but you are comparing Apples and Oranges. I'd argue that with the exception of New York, Chicago is the top city in the United States. It's like saying you want Disney, but only want to pay for a roadside carnival. There are no doubt cheaper places to live, but you will not get the same experience.

Long term, we may do the snowbird thing and have a place here and a place in Florida or similar, but that's still a ways off.

[chet everett]

Read and be enlightened:

Why the Second City is First in Population Loss | Chicago Tonight | WTTW

In Lakeview, this pattern of depopulation is really hurting their residents. There are lots of empty storefronts in one of the richest neighborhoods in the city because the population was dropping, so it’s bad in terms of hyperlocal economy,”

https://www.illinoispolicy.org/chica...-city-in-2015/

The Windy City is the only American city to register a significant outflow of millionaires in 2015, topping the losses of economically and socially distressed nations such as Russia, Spain and Brazil – and tying Greece. ...Furthermore, the portion of Cook County’s income that left Illinois on net was larger than the portion of Cook County’s people who left the state on net, indicating that higher-income earners in Chicago might be more likely to leave the state than to move to other areas within Illinois. ... All told, Illinois lost a net of nearly 10,000 tax returns and more than $3 billion of annual income from taxpayers reporting more than $100,000 of AGI in 2013.

[IrishIllini]

Originally Posted by chet everett

Read and be enlightened:

Why the Second City is First in Population Loss | Chicago Tonight | WTTW


https://www.illinoispolicy.org/chica...-city-in-2015/

Jesus, Chet. This has been covered so many times I can't help but feel you're reposting it just to give yourself something to do.

ACS Data shows double digit growth amongst households earning 100k+ and negative growth in households earning less than 50k. There's a net gain of 15,000 people in Chicago between 2014 and 2015. The percentage of millionaire households in IL is at an all time high. There are also more housing starts in Lake Co., IN and even Kane Co. here in IL. Why would we push our urban boundary further north, south, east, and west in a region declining in population? Do you really think developers are building these homes with the intention of not selling them? This isn't 2007 where even a dog could purchase a house...banks wouldn't be handing out these construction loans if there was no hope of selling the finished product.

[damba]

Originally Posted by IrishIllini

Jesus, Chet. This has been covered so many times I can't help but feel you're reposting it just to give yourself something to do.

He actually does this often in these forums IME. Silly

ACS Data shows double digit growth amongst households earning 100k+ and negative growth in households earning less than 50k. There's a net gain of 15,000 people in Chicago between 2014 and 2015. The percentage of millionaire households in IL is at an all time high. There are also more housing starts in Lake Co., IN and even Kane Co. here in IL. Why would we push our urban boundary further north, south, east, and west in a region declining in population? Do you really think developers are building these homes with the intention of not selling them? This isn't 2007 where even a dog could purchase a house...banks wouldn't be handing out these construction loans if there was no hope of selling the finished product.

Exactly. You don't necessarily use the millionaire category as the 'canary in the coal mine' since it's a much smaller percentage of the total population.

[Taco1234]

Originally Posted by My Kind Of Town

Warn them about what exactly? The article you posted itself says that home values are projected to rise, albeit at a slower rate, next year so basically you agree with others here that say home values will continue to rise?

Key word: weakest... the housing market is actually doing quite well mostly everywhere! If it were struggling across the board and Illinois was lumped in that would make sense. In reality, it's doing well nationally-- except Illinois. So, how is that appealing or positive? Something is obviously majorly wrong here. Again, people will believe what they want to and deny the obvious.

https://www.google.com/amp/s/www.was...?client=safari

[Taco1234]

Originally Posted by flamadiddle

But Taco, there are also people willingly moving to the Chicago area. I see it all the time on this forum. I'm a good example. Since I work remote, I can live anywhere in the US and we ultimately chose to move back to the Chicago area. We looked hard at many of the same places you've mentioned and in the end we chose Chicago. Does Chicago/Illinois have a higher overall tax burden than Tennessee? Yes, but you are comparing Apples and Oranges. I'd argue that with the exception of New York, Chicago is the top city in the United States. It's like saying you want Disney, but only want to pay for a roadside carnival. There are no doubt cheaper places to live, but you will not get the same experience.

Long term, we may do the snowbird thing and have a place here and a place in Florida or similar, but that's still a ways off.

Of course there will always be people coming and going from all cities and states! Nobody is denying that... most people are clueless though. I think of all the BS-ing realtors we've met during open houses. Blabbering about home prices shooting up jere and how when rates are low, you buy! Never a better time.... riiiigggghhhht.

"Top city" is totally subjective. I don't consider horrible weather, weak housing market, nearly bankrupt state and property taxes of 2.5% and up a "top" anything. I can travel anywhere for musesims, etc... visiting cities is great! I certainly don't think paying a giant chunk of my income to pay for massive debt incurred by others is smart.

[IrishIllini]

Originally Posted by Taco1234

Of course there will always be people coming and going from all cities and states! Nobody is denying that... most people are clueless though. I think of all the BS-ing realtors we've met during open houses. Blabbering about home prices shooting up jere and how when rates are low, you buy! Never a better time.... riiiigggghhhht.

"Top city" is totally subjective. I don't consider horrible weather, weak housing market, nearly bankrupt state and property taxes of 2.5% and up a "top" anything. I can travel anywhere for musesims, etc... visiting cities is great! I certainly don't think paying a giant chunk of my income to pay for massive debt incurred by others is smart.

If you're paying a giant chunk of your income then move, but make sure its to Indiana, Tennessee, or Mississippi. You're not going to find a much more affordable place than IL. Unfortunate that things aren't working out for you here because it seems the vast majority of people are doing pretty well. Good luck!

[Taco1234]

Originally Posted by IrishIllini

If you're paying a giant chunk of your income then move, but make sure its to Indiana, Tennessee, or Mississippi. You're not going to find a much more affordable place than IL. Unfortunate that things aren't working out for you here because it seems the vast majority of people are doing pretty well. Good luck!

If you own a home in Illinois, you too are paying a giant chunk of your income to (property) taxes. Here we were looking at a 4K mortgage payment, where we are moving we're looking at a 2k payment... the difference is mostly property taxes.

[jvr789]

Originally Posted by IrishIllini

Jesus, Chet. This has been covered so many times I can't help but feel you're reposting it just to give yourself something to do.

ACS Data shows double digit growth amongst households earning 100k+ and negative growth in households earning less than 50k. There's a net gain of 15,000 people in Chicago between 2014 and 2015. The percentage of millionaire households in IL is at an all time high. There are also more housing starts in Lake Co., IN and even Kane Co. here in IL. Why would we push our urban boundary further north, south, east, and west in a region declining in population? Do you really think developers are building these homes with the intention of not selling them? This isn't 2007 where even a dog could purchase a house...banks wouldn't be handing out these construction loans if there was no hope of selling the finished product.

To be fair, if housing starts in Northwest Indiana (Lake County, IN) are strong how does that underscore the health of the overall market? People are crossing the state line not b/c there is something inherently better about the dirt in Indiana. People are crossing the line b/c of political and fiscal issues in IL/Chicago which is having an impact on the cost of home ownership and living in general.

I truly hope that the Chicago RE market becomes stronger and can find a healthy balance. But claiming that it has overall demonstrated a relatively healthy performance over the last 5 years is stretching the truth. Like others said, there have been areas with good recovery but other areas have SERIOUSLY lagged. Overall, I'm not sure this bifurcation of market health bodes well for the region as a whole. I guess we shall see....

[Taco1234]

Originally Posted by IrishIllini

You know a few people. The ACS data shows numbers growth in high income households. If your friends family members sold their houses, I'm not sure why this is surprising, lol. You're coming across as spiteful. If you're not familiar with the ACS, take a look and then we can revisit this conversation. If you need help finding the ACS data, take a look through my post history.

Also Florida isn't any more affordable than IL. https://www.missourieconomy.org/indi...ving/index.stm

Facts matter.

Regardless of what those cost of living charts and graphs say, we have calculated and know what we will actually be making and what we will be paying for a mortgage and for general day to day things, and it's dramatically less. I realize that every state has corruption, every state has debt, every state has taxes in one form or another. Illinois just happens to be a place that has an extreme amount of it, and when you read on a continual basis stories like this:

https://www.google.com/amp/www.chica...?client=safari

you become disgusted and horrified that you live in a place where property taxes are typically over 2 1/2% and will likely keep going up thanks to things like that happening. I was born and raised in Illinois like most of the people I know, and lately almost everyone I speak to agrees that they are unhappy here. Whether it's the weather, the taxes, or the constant news about state debt... people have just had enough.