CHICAGO | General Developments

[marothisu]

Originally Posted by Emprise du Lion

According to a Federal Reserve study, 46% of Americans cannot front an emergency expense of $400, so yeah, things aren't going well for massive segment of the American populace.



The numbers only get worse when the bill is moved to $500 or $1,000.
http://www.chicagotribune.com/busine...107-story.html

I'd love to see a geographical breakdown of this to be honest. I'm wondering how many people it would show in large cities that are there, living in areas that are beyond their means.

[the urban politician]

Well, there is plenty of work out there painting, carpet laying, hanging and sanding drywall, roofing, doing yard work, etc etc. Tons and tons of this work.

But everybody thinks they are a manager now, and this work is for "somebody else" apparently. Plus Uncle Sam keeps doling out freebies so, what the heck?

[tjp]

Originally Posted by the urban politician

Well, there is plenty of work out there painting, carpet laying, hanging and sanding drywall, roofing, doing yard work, etc etc. Tons and tons of this work.

But everybody thinks they are a manager now, and this work is for "somebody else" apparently. Plus Uncle Sam keeps doling out freebies so, what the heck?

Even people who do that work are going to need "freebies," though, when it pays $12 an hour with no benefits.

[Emprise du Lion]

Originally Posted by the urban politician

Well, there is plenty of work out there painting, carpet laying, hanging and sanding drywall, roofing, doing yard work, etc etc. Tons and tons of this work.

But everybody thinks they are a manager now, and this work is for "somebody else" apparently. Plus Uncle Sam keeps doling out freebies so, what the heck?

Who said anything about people not working? Plenty of your craftsman fall into the category that can't cover an emergency, I'm sure.

As recently as 2013 a survey found that 76% of Americans were living paycheck-to-paycheck. Things have improved some since then, but this remains the harsh reality in which the majority of Americans currently live in.

http://money.cnn.com/2013/06/24/pf/emergency-savings/
http://www.marketwatch.com/story/mos...eet-2016-01-06

[Emprise du Lion]

Originally Posted by marothisu

I'd love to see a geographical breakdown of this to be honest. I'm wondering how many people it would show in large cities that are there, living in areas that are beyond their means.

I imagine it would be quite high, especially among millennials who have moved to relatively large and expensive cities.

A friend of mine actually went back to Minneapolis because what he was making in Chicago wasn't cutting it, and every paycheck he received was budgeted down to the dime. He hopes to come back to Chicago, but he's currently trying to save up money back in Minnesota.

Another friend turned down a job offer in San Francisco because he realized his salary bump wasn't covering his dramatic rent increase between here and there.

[Via Chicago]

Originally Posted by marothisu

I'd love to see a geographical breakdown of this to be honest. I'm wondering how many people it would show in large cities that are there, living in areas that are beyond their means.

If that is in fact true, then it only suggests that the whole "return to the city" movement is being built on a bubble.

Also, its worth noting that higher income dosent necessarily mean one cant be living paycheck to paycheck. There are plenty of people living fairly lavish lifestyles but have nothing to show for it at the end of the month.

[marothisu]

Originally Posted by Via Chicago

If that is in fact true, then it only suggests that the whole "return to the city" movement is being built on a bubble.

Also, its worth noting that higher income dosent necessarily mean one cant be living paycheck to paycheck. There are plenty of people living fairly lavish lifestyles but have nothing to show for it at the end of the month.

Well could be, but could not be. I guess my point is that there may be tons of people moving to various cities and living in certain conditions when they shouldn't be. For example, 3 people stacking into a one bedroom in Manhattan just so they can live there - perhaps they should re-think living there and try elsewhere first.

[Emprise du Lion]

Originally Posted by Via Chicago

If that is in fact true, then it only suggests that the whole "return to the city" movement is being built on a bubble.

I've seen various Rust Belt cities attempt to sell themselves on the fact that they can offer an urban lifestyle, with all of the amenities that you would want, but at the fraction of the cost.

What they neglect to mention is that your paycheck is most likely going to be smaller there due to the cost of living, but, for those making large paychecks in such places, it can be a great way to have the lifestyle that you want while also having the ability to save money. The same is true when Chicago is compared to more expensive coastal cities.

[Via Chicago]

Originally Posted by marothisu

Well could be, but could not be. I guess my point is that there may be tons of people moving to various cities and living in certain conditions when they shouldn't be. For example, 3 people stacking into a one bedroom in Manhattan just so they can live there - perhaps they should re-think living there and try elsewhere first.

The problem is many industries only exist in these places. Its easy to say "move back to Iowa" but if youre trying to get into a certain career, theres probably a reason why youre shacked up with 3 other people in NY. Also, creative fields populated by young ambitious people are economically exploited in just the worst, borderline criminal ways.

[Kngkyle]

Living in Chicago is extremely cheap if you are willing to split a 2 bedroom 1 or 2 bathroom apartment with a roommate. Do that your rent will only be $600-$800 per month unless you demand on living in the trendiest neighborhoods. I moved to Chicago in 2013 after graduating and my rent was cheaper than what I paid for my college dorm, and my college dorm was a dump in comparison.

Hell, I just bought a $250k place and still pay about the same per month as I did in college. A roommate and renting out my parking spot covers about 70% of the mortgage payment, allowing me to save $$ for the next investment.

If you insist on having your own place in the trendiest neighborhoods then yea Chicago is going to be more expensive than Des Moines.

tl;dr: chicago is super cheap if you aren't an idiot

[marothisu]

Originally Posted by Via Chicago

The problem is many industries only exist in these places. Its easy to say "move back to Iowa" but if youre trying to get into a certain career, theres probably a reason why youre shacked up with 3 other people in NY. Also, creative fields populated by young ambitious people are economically exploited in just the worst, borderline criminal ways.

Which is why companies need to start, and some already have, started opening offices in other cities. There are many large tech companies with some sorts of offices in places you wouldn't necessarily expect. We've seen it in Chicago too - Glassdoor is opening an office in Chicago and directly noted the cheaper COL compared to other large cities for a reason why they are choosing the city.

I honestly think this works in Chicago's favor in the end, but that's up to the companies to see it/do it. Some of the cities in the US that everyone wants to move to are increasing so much with price and some are already too expensive. My client wants to potentially hire and move me to NYC - I'd consider it if they pay me enough money. I started looking a little bit ago at apartments in Manhattan and it's criminal how much 1 bedrooms are going for that aren't even nice and have next to nothing included in them. Makes Chicago look like a goddamn paradise in some areas especially when you realize what is included in Chicago's apartments.

[urbanpln]

Originally Posted by Higher&Higher

My parents, who are some of the most hard-working people in the world and also happen not to be native to the States (from Mexico), finally saved up enough money to buy our first house in the west Englewood community. Although Hispanics over here in the west Englewood area is still kind of rare, I've noticed an impact that the growing Hispanic population over here is doing. There are more houses being bought and renovated, streets are started to get cleaner, and we are starting to see some development that wasn't happening before. Where I am trying to go with this is that YES! gentrification sucks when you're the one being kicked out, but I'm starting to see it more of a cycle that needs to happen in order for other areas to be developed. Right now my neighborhood is not developing as fast as let's say logan square, in fact, the closest big development that I know of over here is the Englewood Square at 63rd & Halsted. And so for you guys bashing the people who are anti-gentrification (the urban politician) please shut up! Don't generalize an entire group just for trying to stay in a place where they grew up their whole entire lives. As much as I loved living on the North Side, I am not going to blame a particular race for all my problems. Development over here in the South is very much needed, and I hope for the day where broken neighborhoods like Englewood have changed for the better as I am now part of their community.

Glad to hear this is beginning to gain some footing. I used to work in the City's Planning Department and, we noticed this movement about 5 years ago while survey parts of that area. I believe this is the best way to change that part of the city for the better. Immigrants are so important to the health of big cities like Chicago. They play a major role in the rebirth of older neighborhoods that are not as attractive to more affluent population, which sometimes leads to the interest of the more affluent. That cycle seems to be broken in Chicago for various reasons in which I will not elaborate on.

As an African American who used to live on the southside, but now resides in the South Loop, I do understand that the City has to continue to attract a young, talented, and affluent population if it wants to remain competitive. I also know that it can not afford to not try too improve the lives of some of its less fortunate citizens. It needs to be done because they are not going anywhere soon, and it will continue to drain the life out of the City and region if left unchecked. Sometimes TUP can strike a nerve with his logic. It borderlines intolerance at times, but I do understand his desire to want the City to thrive. I just don't completely subscribe to his way of achieving it.

[marothisu]

Since we're talking about West Englewood and Hispanic population - On my renovation map, I see a bunch of them in an area of West Englewood for renovating some buildings or some units of buildings. Does this have anything to do with that?

[Via Chicago]

Originally Posted by marothisu

Which is why companies need to start, and some already have, started opening offices in other cities. There are many large tech companies with some sorts of offices in places you wouldn't necessarily expect. We've seen it in Chicago too - Glassdoor is opening an office in Chicago and directly noted the cheaper COL compared to other large cities for a reason why they are choosing the city.

I honestly think this works in Chicago's favor in the end, but that's up to the companies to see it/do it. Some of the cities in the US that everyone wants to move to are increasing so much with price and some are already too expensive. My client wants to potentially hire and move me to NYC - I'd consider it if they pay me enough money. I started looking a little bit ago at apartments in Manhattan and it's criminal how much 1 bedrooms are going for that aren't even nice and have next to nothing included in them. Makes Chicago look like a goddamn paradise in some areas especially when you realize what is included in Chicago's apartments.

I dont think coding/tech is so much the issue, which boasts high salaries (unless specifically chasing startups). The creative people that NY attracts in such high numbers (graphic designers, writers, artists, etc) are trying to get into very competitive fields like publishing or advertising and theyre basically expected to work on a volunteer basis for the hope that they might "get exposure". This is perpetrated not just by under the table small operations, but also massive global ones like Gawker and Vice

Aulistar Mark, Andrew Hudson and Hanchen Lu allege that they spent at least 15 hours a week writing, editing, researching and moderating comment forums for the company's websites and "were not paid a single cent for their work," according to the complaint.

http://abcnews.go.com/Business/fed-i...ry?id=19476629

"A designer for print was making $28K" in 2013, we're told. A video editor who worked for Vice for two years said "the wage was $27K/year." Another person who left recently after holding relatively important editor-level job told us that, in her experience, "Rarely anyone makes over $45,000." Freelancers—writers, photographers, illustrators, and otherwise—tell us the rates are low, and that Vice (like many other publications) is often slow in paying them. Salaries at Vice Media and the company's pay rate for contract work were described to us as "a pittance," "a fucking joke," and "so low I couldn't even consider it, it was offensive."

http://gawker.com/working-at-vice-me...ems-1579711577

(ironic that gawker is the one reporting that story)

[msu2001la]

Originally Posted by Kngkyle

Living in Chicago is extremely cheap if you are willing to split a 2 bedroom 1 or 2 bathroom apartment with a roommate. Do that your rent will only be $600-$800 per month unless you demand on living in the trendiest neighborhoods. I moved to Chicago in 2013 after graduating and my rent was cheaper than what I paid for my college dorm, and my college dorm was a dump in comparison.

Hell, I just bought a $250k place and still pay about the same per month as I did in college. A roommate and renting out my parking spot covers about 70% of the mortgage payment, allowing me to save $$ for the next investment.

If you insist on having your own place in the trendiest neighborhoods then yea Chicago is going to be more expensive than Des Moines.

tl;dr: chicago is super cheap if you aren't an idiot

Living in any US city is cheap if you are willing to share an apartment and live in less popular areas. This isn't really unique to Chicago.

[marothisu]

Originally Posted by Via Chicago

I dont think coding/tech is so much the issue, which boasts high salaries (unless specifically chasing startups). The creative people that NY attracts in such high numbers (graphic designers, writers, artists, etc) are trying to get into very competitive fields like publishing or advertising and theyre basically expected to work on a volunteer basis for the hope that they might "get exposure". This is perpetrated not just by under the table small operations, but also massive global ones like Gawker and Vice

My girlfriend is in marketing in NYC so I'm aware. But also be aware that NYC also has many tech people now, and not all of them make as much money as you might think, though many do. I work in tech, technically. I'm paid pretty well, and so are my coworkers in NYC. However, most of my coworkers living in Manhattan even though they're paid well still live with other people. Their shares of their units are not cheap though - still $1800+ per person for nothing special in an area like UES. I've seen 1 bedrooms go for $4500+ that would be $2100 or less in downtown Chicago with more included.

[brian_b]

Not to change the subject too much, but did anyone else notice that the gas leak in the South Loop yesterday shut down the single vehicular access point to Dearborn Park for close to 3 hours?

Seems like a pretty big liability there.

[moorhosj]

Originally Posted by LouisVanDerWright

Most Americans simply don't have any concept of thrift anymore and are completely lost in a culture of "I'll go to art school, study abroad, graduate in 5 years, lease a car as soon as I get a job and then be extremely confused as to why I can't afford the lifestyle my parents had".

Step off your soapbox, it is almost unbearable. You talk about how you can't be put in a box, then proceed to place everyone else in a box.

How many people's parents were able to study the things that truly interested them, spend time abroad and immediately get a car? Sounds like a nice lifestyle to me.

[mattshoe]

This conversation is getting old

[UPChicago]

CHICAGO | General Lifestyle Development thread?