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Old 08-07-2019, 07:52 PM
 
Location: La Grange, WI
99 posts, read 70,291 times
Reputation: 145

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Quote:
Originally Posted by dcisive View Post
Well, the bottom line is granny can live a much better life in Sun City Arizona on that income and not be taxed with affordable nearby healthcare and activities during the winter outside as well. That's just one of many options for seniors and why they would likely leave Illinois. About the ONLY reason to stay is if their kids and grandkids live there and want to be nearby. Otherwise they would head out of town. Florida I guess is another option for many. Personally I feel Arizona is a much better situation. I hate humidity
My parents live in Florida now. My Dad retired last year and they switched their residency over shortly thereafter. I have aunts,uncles and several cousins in the state also. I don’t mind visiting (especially in say February) but I am not so sure I would want to live in Florida full time. Where my parents live in Clearwater is not that bad as far as heat since it’s nice and breezy,but as much as I complain about winter I am not so sure having essentially no winter would be to my liking either.
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Old 08-08-2019, 12:56 AM
 
197 posts, read 235,899 times
Reputation: 631
Quote:
Originally Posted by wase4711 View Post
my friend in Lake of the hills has been trying to sell his house for over a year; he's listed it 30k UNDER what he should, and not even 1 real offer in a year..

my best friend, who is a realtor in Hinsdale area, says there are over 2 years worth of unsold inventory in the 500-600k range which is lower end in that area, he's given up on residential, after 15 years, and only doing commercial..

I know of many more instances just like this, including my brother and sister in law, who can't sell their 250k house in Oak forest, completely remodeled and updated..
Unless you live in the City itself, selling any house is becoming a nightmare in the Chicagoland market...
I've been in the market to buy for the past couple of months and I'm seeing a disturbing trend that I like to call "boomer reality". Which I can describe as people who originally purchased their homes in the 90's for less than $100k and now are trying to sell those houses after 20-30 years and they demand top dollar without having done any upgrades or updating.

Who wants to buy a $500k house with 1980's kitchen, bathrooms, and decor? I'm seeing many of these houses sitting on the market for months (or years!) and the asking prices are ridiculously unrealistic.

If you can't sell a house in 2 years in Hinsdale, you might be suffering from "boomer reality".

Lower the price.
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Old 08-08-2019, 06:14 AM
 
207 posts, read 213,909 times
Reputation: 122
Has this been seen/discussed here? Thoughts?


Illinois Considering Taxing Retirement Income to Pay for Government Employee Pensions



https://www.youtube.com/watch?v=A5Gkpx_gC8Q
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Old 08-08-2019, 06:15 AM
 
Location: broke leftist craphole Illizuela
10,326 posts, read 17,427,673 times
Reputation: 20337
Quote:
Originally Posted by olive03 View Post
Has this been seen/discussed here? Thoughts?


Illinois Considering Taxing Retirement Income to Pay for Government Employee Pensions



https://www.youtube.com/watch?v=A5Gkpx_gC8Q
Makes no difference to me as there is no way in h#ll I stay in Illinois when I retire. But yea more rob from senior peasants with social security and 401k to pay for lavish benefits for the govt lords. Dems helping the common people lol.
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Old 08-08-2019, 07:51 AM
 
629 posts, read 543,458 times
Reputation: 994
Quote:
Originally Posted by olive03 View Post
Has this been seen/discussed here? Thoughts?


Illinois Considering Taxing Retirement Income to Pay for Government Employee Pensions



https://www.youtube.com/watch?v=A5Gkpx_gC8Q
as long as the pensioners are chipping in, this is a no brainer... but my guess is that pensions will be exempt even though they are the #1 cause of this massive mess
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Old 08-08-2019, 07:53 AM
 
4,011 posts, read 4,252,181 times
Reputation: 3118
Quote:
Originally Posted by Caglee View Post
I've been in the market to buy for the past couple of months and I'm seeing a disturbing trend that I like to call "boomer reality". Which I can describe as people who originally purchased their homes in the 90's for less than $100k and now are trying to sell those houses after 20-30 years and they demand top dollar without having done any upgrades or updating.

Who wants to buy a $500k house with 1980's kitchen, bathrooms, and decor? I'm seeing many of these houses sitting on the market for months (or years!) and the asking prices are ridiculously unrealistic.

If you can't sell a house in 2 years in Hinsdale, you might be suffering from "boomer reality".

Lower the price.
Few buyers actually enjoy paying list price

Seriously though- you are looking at a popular area of concentrated wealth with excellent access to the city, airports and amenities/services. Add in great schools on top of that. The notion that someone has to immediately sell for a lower offer is also unrealistic. We aren’t discussing the 90s, this is now.

Find a great realtor and up your budget a little and perhaps you might find something acceptable. The reality is, that is what that particular RE market is like in Hinsdale.
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Old 08-08-2019, 01:20 PM
 
605 posts, read 711,754 times
Reputation: 778
Quote:
Originally Posted by smegmatite View Post
as long as the pensioners are chipping in, this is a no brainer... but my guess is that pensions will be exempt even though they are the #1 cause of this massive mess
Right. Most of the pensioners are rich and leave. Taking their spoils to places where they can live like REALLY rich people because the cost of living is so much less.

The poor plebeians, like single retirees on SS don't usually have the means to move. Either they have kids they want to stay near, or just the cost of moving and the stress of moving all alone to a new place is waaaay too overwhelming. It's hard enough when you're young and not alone. Moving is NOT cheap. Even if you don't have much stuff.
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Old 08-08-2019, 09:14 PM
 
1,067 posts, read 916,122 times
Reputation: 1875
Grover Norquist is spot on. My parents have private pensions and 401ks and will leave the second Illinois taxes them.

However, it is reasonable to tax to retirement income. It's just that Illinois already taxes us to death so this is just another push out the door for retirees.
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Old 08-09-2019, 10:24 AM
 
605 posts, read 711,754 times
Reputation: 778
Quote:
Originally Posted by Justabystander View Post
Those moving out are primarily lower income, who like you, would rather live in an outpost in Arizona than in an urban area and pay taxes and recieve the benefit of those taxes in the form of services, schools, sidewalks etc.
So much for this idea...

https://www.foxbusiness.com/economy/...merican-movers




"Florida is unique in that it also draws a large proportion of higher net-worth individuals – more than 85 percent of its net inflow of income came from people earning at least six-figures."


I thought only poor people were moving out???

Florida has huge population influx. Huge. And 85% is 6 figure income people.
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Old 08-09-2019, 11:46 AM
 
Location: La Grange, WI
99 posts, read 70,291 times
Reputation: 145
Quote:
Originally Posted by Bellamouse View Post
So much for this idea...

https://www.foxbusiness.com/economy/...merican-movers




"Florida is unique in that it also draws a large proportion of higher net-worth individuals – more than 85 percent of its net inflow of income came from people earning at least six-figures."


I thought only poor people were moving out???

Florida has huge population influx. Huge. And 85% is 6 figure income people.
I can only speak to my parents neighborhood in Clearwater and the overwhelming majority are older folks and folks who quite clearly are not hard up for money. Lots of Canadians too. They come for the weather and for services which cater to them. Some are snowbirds (like my parents) who have houses elsewhere but they stick around Florida long enough to claim residency for the tax benefits. Really the only reason my parents kept their house in Missouri is because of my protests. Sorry Mom, but we are not having Xmas in Florida and that is not negotiable. Call me sentimental, but it is my childhood home.
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