Illinois......are you staying or leaving? (Chicago, Schaumburg: sale, loans, home)

[IrishIllini]

Originally Posted by MongooseHugger

Reason for the following:

1) ridiculous property taxes - Democrats
2) ridiculous tolls - Democrats
3) crumbling roads - Democrats
4) horrid schools - Democrats
5) soaring crime - Democrats
6) corruption - Democrats
7) supporting illegal immigration - both parties
8) violation of Constitutional rights - Democrats
9) high COL - Democrats
10) racism - both parties, but probably more so for Democrats
11) job losses - Democrats
12) soaring debt - Democrats

Everything you're complaining about here happens everywhere. Have you seen property taxes in Dallas? Have you seen tolls throughout Texas?

Illinois ranks well in the top half for best schools. Don't confuse the CITY of Chicago with Illinois.

Crime is up in places you probably don't live or ever visit. If you do live in one of these communities, I feel for you and don't blame you for getting out.

COL in line with national averages. Illinois is actually more affordable than more than half all other states https://www.missourieconomy.org/indi...ving/index.stm

Job losses are real and unfortunate. Chicago has surpassed previous employment peaks but manufacturing throughout Illinois continues to decline.

Illinois has MANY peers regarding debt. They just don't get brought through the wringer like we do for whatever reason. State Debt Ranking Percent GDP for 2017 - Charts

Roads could use some work, specifically in the city.

I also despise elements of the Democratic Party, but all this paritsan nonsense is getting very old. Why don't people start looking into things instead of parroting right-wing media sources?

[chicagogeorge]

Originally Posted by IrishIllini

Don't confuse the CITY of Chicago with Illinois.

Cook County and Chicago are basically one in the same when it comes to affordability and taxes. Imo it's not worth living in either right now. My cousin pays 11,000 a year in property taxes for a 3 bed 2 bath 1 car garage in Morton Grove?? Give me a ****ing break. I moved to the far southern parts of the metro area (Bourbonnais) 6 years ago from the city.

I won't be leaving anytime soon since I'm tied down to my pension (if it will even be there when I retire), though I did just buy a home in Texas which I'm renting out. In 16 years when I can collect a pension, Texas or Florida will be my destination.


Our regrettable shrinking state

From July 2015 to July 2016, the state’s population declined by more than 37,000 people. That’s the worst population loss in the nation, and will likely mean the loss of a seat in the U.S. House of Representatives. Pennsylvania, which also experienced a net population loss in the Census, is now set to overtake Illinois as the fifth-largest state. Illinois is simply sliding backward faster.

Census data show an alarmingly rapid trend fueling Illinois’ shrinkage: Illinoisans leaving for greener pastures. And Springfield has had practically no solutions for this problem.

Illinois lost more than 114,000 people to other states over this period. That’s akin to losing almost the entire population of Peoria in a single year, or 1 Illinoisan every 4 minutes 36 seconds.

Illinois is ranked 49 worst run state

49. Illinois
> Debt per capita: $4,942 (11th highest)
> Credit rating (S&P/Moody’s): A-/Baa1
> Unemployment rate: 5.4% (16th highest)
> Median household income: $57,444 (17th highest)
> Poverty rate: 14.4% (25th lowest)

Illinois collects more than $3,000 per capita in state and local taxes each year, one of the highest per capita tax revenues. Yet, the state’s fiscal management system does not appear to be operating optimally, which is the main reason it ranks as the second worst-run state. For example, Illinois has one of the smallest rainy day funds compared to other states, at 1% of its general annual budget — an indication the state may not be able to satisfy its short-term obligations. Illinois’ debt is equal to more than three-fourths of its annual revenue, also one of the highest shares in the nation. Similarly, the state’s pension fund is not financially healthy. The state only has assets on hand to meet 39% of its pension obligations, the lowest ratio of any state. Perhaps as a result of the state’s finances, Illinois has the worst credit rating and outlook from S&P and Moody’s of any state.

The housing market in Illinois is also struggling. One in every 73 housing units is in some state of the foreclosure process, nearly the highest foreclosure rate in the country. As is often the case in states with particularly high foreclosure rates, home prices in Illinois have dropped by more than 10% from 2010 through last year. This decline was the worst in the country during that time.

http://247wallst.com/special-report/...f-all-50-4/11/

[IrishIllini]

Originally Posted by chicagogeorge

Cook County and Chicago are basically one in the same when it comes to affordability and taxes. Imo it's not worth living in either right now. My cousin pays 11,000 a year in property taxes for a 3 bed 2 bath 1 car garage in Morton Grove?? Give me a ****ing break. I moved to the far southern parts of the metro area (Bourbonnais) 6 years ago from the city.

I won't be leaving anytime soon since I'm tied down to my pension (if it will even be there when I retire), though I did just buy a home in Texas which I'm renting out. In 16 years when I can collect a pension, Texas or Florida will be my destination.


Our regrettable shrinking state





Illinois is ranked 49 worst run state




The Best and Worst Run States in America: A Survey of All 50 - 24/7 Wall St.

Check out the COL link I provided. Texas is marginally more affordable on average and Florida is more expensive on average. All three are below average for the U.S. I can totally understand snow birding to Florida (assuming it's still there when I retire), but I also understand it won't be cheap to do so.

[chicagogeorge]

Originally Posted by IrishIllini

Check out the COL link I provided. Texas is marginally more affordable on average and Florida is more expensive on average. All three are below average for the U.S. I can totally understand snow birding to Florida (assuming it's still there when I retire), but I also understand it won't be cheap to do so.

Millions of people are moving to Texas because that's where the jobs are going. Illinois is failng. Pretty simple.

Texas ranks #1 for business friendly states while Illinois #48

http://chiefexecutive.net/best-worst-states-business/

Check Tampa. Houses similar to mine here running 150,000 cheaper. Property taxes way less. That is my next investment

*yeah Florida will be under water in 50 years. LOL

[GoCUBS1]

Originally Posted by chicagogeorge

Millions of people are moving to Texas because that's where the jobs are going. Illinois is failng. Pretty simple.

Texas ranks #1 for business friendly states while Illinois #48

From Texas to California: 2015's Best & Worst States for Business ChiefExecutive.net | Chief Executive magazine

Check Tampa. Houses similar to mine here running 150,000 cheaper. Property taxes way less. That is my next investment

*yeah Florida will be under water in 50 years. LOL

A survey of some random CEOs who rank Illinois (#48), New York (#49), and California (#50) as the very worst states for business, without referencing any research data... Right, that seems legit...

P.s.

Their "worst state for business" of California historically has:

.....the highest business survival rate of any state, with 3.5 times more businesses created than closed in 2013. This boom in new business shows the strong entrepreneurial spirit of California residents, as does its high density of startups (141 per 100,000 residents). California has the second-largest pool of potential employees and one of the highest unemployment rates in the nation. Entrepreneurs might have an easier time of securing funds in the Golden State compared with other states, however, because the state has the fifth-highest rate of small business loans (80.6 per 1,000 small business employees).
http://www.cbsnews.com/media/want-to...entrepreneurs/



Also, check out Illinois, California, New York on this GDP growth map...


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

[ForYourLungsOnly]

Originally Posted by IrishIllini

State Debt Ranking Percent GDP for 2017 - Charts

Be sure to avoid New York, South Carolina, Rhode Island, Washington, Florida, Kentucky, Connecticut, California, Pennsylvania, Massachusetts, West Virginia, Colorado, New Jersey, Nevada, Hawaii, Texas, Kansas, Louisiana, and Oregon!

Yep...the people who think the grass is so much greener crack me up.

[ForYourLungsOnly]

Originally Posted by chicagogeorge

Millions of people are moving to Texas because that's where the jobs are going. Illinois is failng. Pretty simple.

Texas ranks #1 for business friendly states while Illinois #48

From Texas to California: 2015's Best & Worst States for Business ChiefExecutive.net | Chief Executive magazine

Check Tampa. Houses similar to mine here running 150,000 cheaper. Property taxes way less. That is my next investment

*yeah Florida will be under water in 50 years. LOL

Go ahead and move to Houston. I know several people who have and despise it so much they are making plans to move again already. They constantly complain about the heat, sprawl, lack of transit, traffic, lack of interesting neighborhoods, bland city scape, etc. etc. etc. But its business friendly so alas, it must be the perfect city. Also, not sure what's so funny about climate change.

[GoCUBS1]

RE: previous posts on salaries being so much better in FL...

"Florida ranks fifth in the nation for the growth of tech jobs but 24th in average tech wages, according to Cyberstates 2016, a report released Tuesday by the Computing Technology Industry Association."
Tech wages lag in Florida, study finds https://www.google.com/amp/www.sun-s...?client=safari


RE: previous posts on Florida economy being so good...

"When you consider the growth of the GDP compared to the growth of the state's population, Florida has lagged behind the national GDP average for years. But rather than remain stable or narrow since the recession, the gap is widening. The only conclusion is: Florida's is falling farther and farther behind the rest of the nation.

Between 2003 and 2015, Florida's per capita GDP dropped from $40,368 to $38,950, according to the BEA data. By comparison, the national average per capita GDP increased from $45,858 in 2003 to $49,844 in 2015 -- despite the recession. During that time, the gap between Florida's per capital GDP and the nation's doubled. And since Scott took office, Florida has dropped 18 percent more behind the national average in 2015, than it was in 2010."

What the governor is not saying about Florida's economy: It's falling farther behind | Naked Politics

[IrishIllini]

Originally Posted by chicagogeorge

Millions of people are moving to Texas because that's where the jobs are going. Illinois is failng. Pretty simple.

Texas ranks #1 for business friendly states while Illinois #48

From Texas to California: 2015's Best & Worst States for Business ChiefExecutive.net | Chief Executive magazine

Check Tampa. Houses similar to mine here running 150,000 cheaper. Property taxes way less. That is my next investment

*yeah Florida will be under water in 50 years. LOL

Texas is also ranked dead last in school quality.

Millions of people are moving to Texas over how many years? Texas is adding manufacturing and warehousing jobs. Those jobs are easy to land if you eliminate regulatory oversight. They're also easy to lose when CEOs decide to leave for cheaper markets OR automation REPLACES the need for humans. Much more challenging to have your working population be innovative, which is where SUSTAINED future job growth is. Texas isn't particularly strong in high skill service jobs, although it's no slouch either. At the end of the day, Chicago offers more opportunity in this regard.

Median Income in Tampa is 48k. Median housing price is 175k. Those numbers are 61k and approximately 200k in Chicago.

Florida could very well be facing some serious issues in 50 years. Don't underestimate the rate of change for Climate Change.

[Bluefox]

Originally Posted by IrishIllini

Texas is also ranked dead last in school quality.

Millions of people are moving to Texas over how many years? Texas is adding manufacturing and warehousing jobs. Those jobs are easy to land if you eliminate regulatory oversight. They're also easy to lose when CEOs decide to leave for cheaper markets OR automation REPLACES the need for humans. Much more challenging to have your working population be innovative, which is where SUSTAINED future job growth is. Texas isn't particularly strong in high skill service jobs, although it's no slouch either. At the end of the day, Chicago offers more opportunity in this regard.

Median Income in Tampa is 48k. Median housing price is 175k. Those numbers are 61k and approximately 200k in Chicago.

Florida could very well be facing some serious issues in 50 years. Don't underestimate the rate of change for Climate Change.

You're undervaluing the housing in Chicago. When you look at average housing in halfway decent areas it's higher. There are large swaths of the city and south suburbs that are, without a doubt, unfit, but still have homes for sale which drive down the housing numbers. Plus you have far more taxes to deal with in Chicago than somewhere like Florida or even Texas. Lets keep the comparisons apples to apples here.

Still, I think Chicago does have more to offer a single or couple who are making in the 100-180k range. Below that you are priced out of SFHs in much of the truly nice parts of the city and the remotely desirable suburbs, particularly the latter when you consider the tax burden. You can definitely purchase on less but it will be hard to do in a truly nice neighborhood.