CHICAGO | Politics and Current Events

[SIGSEGV]

Originally Posted by jpIllInoIs

I back that, but can you tax a non-resident? Can the state make an excise tax on out of state withdrawals?

Non-residents with IL source income already owe IL income taxes. One could imagine a pension tax with some exemption for IL property tax / rent that drives the effective date for residents to zero.

[the urban politician]

Did anybody see the Mayoral debate on Flannery Fired Up? Daley, Lightfoot, and some others were on there but Preckwinkle, Mendoza, and Chico weren’t.

It was one of the most productive discussions about problems Chicago is facing that I have seen in a long time. It felt more like a discussion than a debate. A lot of good candidates are running for Mayor right now. Definitely a good time for change.

[LouisVanDerWright]

Burke endorsed Chico, so cross him off the list of people to consider... The machine won't die that easy...

[the urban politician]

^ I'd still take Chico over Preckwinkle

[LouisVanDerWright]

Originally Posted by the urban politician

^ I'd still take Chico over Preckwinkle

Good thing we have 12 other options. Let's just hope neither of these evil people make it to the runoff...

[LouisVanDerWright]

^^^ You can kiss all housing stock in this city that hasn't been gut rehabbed in the last 20 years goodbye. Prepare for large sections of the South and West sides to be razed wholesale since it's now illegal to fix buildings for a profit.

Seriously, whàt exactly is supposed to happen now when a building is half vacant, hasn't been updated in 100 years, and the rents are $400 a month? How's that math going to work when you need to put $100k a unit into it to make it habitable? How you gonna recoup that $100k at the rate of $400 a month? You aren't, the building is going to be left to rot until it is torn down or until it burns down and kills 9 children because the tenants can't be evicted and are living in a half abandoned 120 year old shack.

Anyone who supports this bill is in favor of those nine children dying in that fire in little village. Literally the landlord had been trying to evict them from a half abandoned building for 8 months and couldn't because of our stupid RLTO. And of course it's the landlords fault that they dismbered their fire alarm and wouldn't move out of the half abandoned derelict building. Guess what is happening to that building now by the way? It's being razed, another greystone six flat biting the dust because the bleeding brain liberals think they can just legislate rent increases out of existence with no consequences. That building burning and being destroyed is displacement. That's another six units that will never exist again.

I probably will not be purchasing and renovating another building in this city for residential use ever again if rent control goes into effect. It's just the last straw, it's not worth it

[Natoma]

Will Madigan allow rent control?

[Chicago Shawn]

Originally Posted by LouisVanDerWright

^^^ You can kiss all housing stock in this city that hasn't been gut rehabbed in the last 20 years goodbye. Prepare for large sections of the South and West sides to be razed wholesale since it's now illegal to fix buildings for a profit.

Seriously, whàt exactly is supposed to happen now when a building is half vacant, hasn't been updated in 100 years, and the rents are $400 a month? How's that math going to work when you need to put $100k a unit into it to make it habitable? How you gonna recoup that $100k at the rate of $400 a month? You aren't, the building is going to be left to rot until it is torn down or until it burns down and kills 9 children because the tenants can't be evicted and are living in a half abandoned 120 year old shack.

Anyone who supports this bill is in favor of those nine children dying in that fire in little village. Literally the landlord had been trying to evict them from a half abandoned building for 8 months and couldn't because of our stupid RLTO. And of course it's the landlords fault that they dismbered their fire alarm and wouldn't move out of the half abandoned derelict building. Guess what is happening to that building now by the way? It's being razed, another greystone six flat biting the dust because the bleeding brain liberals think they can just legislate rent increases out of existence with no consequences. That building burning and being destroyed is displacement. That's another six units that will never exist again.

I probably will not be purchasing and renovating another building in this city for residential use ever again if rent control goes into effect. It's just the last straw, it's not worth it

What’s even further maddening is the precivied lack of affordable housing in our region is a total myth, borne out of the fight over a select few rapidly gentrifying neighborhoods, while huge swaths of the region are suffering from abandonment and demolition. The average price of a home sold in Harvey last year was $32,000, as recently reported in Crains. How in the hell can we legitimately claim there is an affordability ‘crises’ when entire communities with direct transit access to the Loop have the average single family home being sold for the price of car?

And for the love of god, can lawmakers actually review the abundantly available case studies on rent control before passing any laws on it? Even Stanford University concluded in their longitudinal study on San Francisco that the combination of strict zoning and rent control was the primary reason the city became so expansive during the tech boom.

[the urban politician]

I long ago gave up on lawmakers doing things that make sense.

This is about appeasing a certain group of people to win votes. The push for rent control is almost entirely coming from the south side of Chicago

[the urban politician]

I know everybody here hates Trump, but if there was one thing that could have come out of his first 2 years of office when both Houses had a Republican majority, it could’ve been a Federal rent control ban. It’s too bad nobody thought about that.

[LouisVanDerWright]

Originally Posted by Chicago Shawn

What’s even further maddening is the precivied lack of affordable housing in our region is a total myth, borne out of the fight over a select few rapidly gentrifying neighborhoods, while huge swaths of the region are suffering from abandonment and demolition. The average price of a home sold in Harvey last year was $32,000, as recently reported in Crains. How in the hell can we legitimately claim there is an affordability ‘crises’ when entire communities with direct transit access to the Loop have the average single family home being sold for the price of car?

And for the love of god, can lawmakers actually review the abundantly available case studies on rent control before passing any laws on it? Even Stanford University concluded in their longitudinal study on San Francisco that the combination of strict zoning and rent control was the primary reason the city became so expansive during the tech boom.

It's a dirty lie pushed by the likes of Carlos Rosa and Will Guizzardi (oh yeah, whitey Will is suuuuper in touch with the plight of minorities, see he wants to ban rent!) just to pander for votes. Comrade Rosa has already demonstrated an utter lack of understanding of basic economics with his attempted Milwaukee Ave downzoning and this is just an extension of it.

The worst part is we are already facing an ongoing preservation crisis here in Chicago. We have lost more irreplaceable historic housing stock in Chicago since the 1950's than possibly any city at any point in history including the sack of Rome. Stupid shit like this basically dooms whatever we have left that hasn't already been upgraded, which is like 50% of our city. If this passes North Lawndale, Garfield Park, etc is basically gone. Those areas are on the cusp of redevelopment and are littered with abandoning or nearly abandoned buildings. Once it becomes illegal to make a profit fixing buildings, expect there to be maybe half of the structures in those areas demolished in the next 10 years.

[the urban politician]

^ Which is why you need to revisit the "Chico and Preckwinkle are equally bad" mentality.

No they ain't. One will usher in rent control if given the opportunity, the other has already stated that he opposes it.

The truth is, though, if we don't have a State rent control ban then rent control is essentially coming to Chicago--it's only a matter of time. There will inevitably be a liberal enough administration to pass it on the grounds that the regular folks who own buildings are "evil profiteers", and that it's everyone's God-given right to live in Lincoln Park and Lakeview. Englewood and West Garfield Park be damned, let those areas of town deteriorate into fields of grass.

[tjp]

Any thoughts on the odds of this going through? I remember JB spoke out in favor of rent control during the campaign but that could just be pandering.

[Via Chicago]

Originally Posted by LouisVanDerWright

Guess what is happening to that building now by the way? It's being razed, another greystone six flat biting the dust

the rest of your post aside, this is untrue. the are demoing the rear "structure"

Gutierrez and his family are negotiating with contractors to demolish the rear building, Anthony Peraica, Gutierrez’s attorney, said by phone this week. The family intends to rehab the front structure, which has been vacant since the fire.

[the urban politician]

Originally Posted by Via Chicago

the rest of your post aside, this is untrue. the are demoing the rear "structure"

^ Yes, in our present non-rent control era, no doubt.

But if you put in price caps, and it costs the owner $30,000 for repairs, where does he recoop his investment?

The source of money by which landlords make fixes to property is RENT.

That money does not come out of thin air. The guy who owns this building is the classic example of a person who will be hurt by rent control. A guy who is probably not wealthy, penalized due to some pandering politicians who don't give a shit about the negative externalities of their policy-making, tampering, etc in industries which they basically don't understand.

[bnk]

https://chicago.suntimes.com/news/bi...oral-campaign/






Billionaire Ken Griffin donates $1 million to Bill Daley mayoral campaign

By Fran Spielman
@fspielman |

02/13/2019, 10:02am  


Bill Daley has been blanketing the television airwaves with commercials hammering away at the issues of crime, taxes and downtown-centric development.

Now, he’ll be able to do a whole lot more of it, courtesy of Illinois’ richest man.

Hedge fund billionaire Ken Griffin has contributed a whopping $1 million to Daley’s mayoral campaign.

In a statement, Griffin said he is proud to support Daley “after careful consideration.”

“Bill is a proven leader who understands the critical importance of working for all Chicagoans regardless of politics, race or background,” Griffin was quoted as saying.

...

.

Business leaders who crave stability and predictability have anything but that in the current field of 14 mayoral candidates vying to replace Emanuel.

They’ve filled Daley’s campaign coffers amid concern that Chicago could take a sharp turn to the political left under a new mayor who targets business for dramatically higher taxes.

[LouisVanDerWright]

Originally Posted by Via Chicago

the rest of your post aside, this is untrue. the are demoing the rear "structure"

That's good to hear, the front structure is a beautiful greystone, but even the rear coachhouse was brick and, due to the fact that coach houses are banned, will never be coming back. A few days after that fire they actually offered to sell the building to me, but given the political blow back I've already gotten for what I'm doing, I absolutely could not afford to touch such a notorious property with a ten foot pole. If I would have bought it, the coachhouse would be staying obvious haunting be damned.

I know you are probably in the group of people that hates me for reviving abandoned structures in Little Village, but this is what displacement looks like. When properties go vacant because no one invests in them, people are displaced. When those properties burn down (often killing or maiming in the process) that is displacement. When those vacant properties ignite next door properties that are totally serviceable and cause more families to lose their homes, that is displacement. When the end result of the fire is a demo order, that's permanent displacement.

At the end of the day the most nefarious aspect of rent control is that it incentivizes disinvestment and slumlording. If you can't raise the rents, why would you put a dime into the building? If the only way you can raise the rents is to get the tenants to leave on their own accord, then your goal is to make the building uninhabitable. We do not have an affordability crises here in Chicago, but we do have a preservation crisis. If this goes through expect the crises we do have to jump into overdrive.

[the urban politician]

Originally Posted by LouisVanDerWright

At the end of the day the most nefarious aspect of rent control is that it incentivizes disinvestment and slumlording. If you can't raise the rents, why would you put a dime into the building? If the only way you can raise the rents is to get the tenants to leave on their own accord, then your goal is to make the building uninhabitable. We do not have an affordability crises here in Chicago, but we do have a preservation crisis. If this goes through expect the crises we do have to jump into overdrive.

^ The good news is, if this gaggle of goofballs gets their way and they actually pass rent control, get ready for a whole shitload of cheap as dirt property to hit the market as property owners panic and want to divest themselves of multiunit property that is overly taxed due to our pension nightmare.

You might be able to get some really good deals, although bearing in mind that your rent increases are limited and you better not have to do a lot of work in fixing them up--not worth the money.

[LouisVanDerWright]

^^^ Actually the only properties that will be worth more will be the ones that are already totally and completely vacant. Everything else will be stuck with tenants, there was even a proposal that the state mandate repair reserves to try to stop landlords from slumlording.

What a clusterfuck...

[LouisVanDerWright]

He's trolling as usual, two thirds of Americans own their own home. We are not the majority, we are the supermajority.

The fact is rent control, much like the various other prices controls just demonstrated to great success in Venezuela, is just a bad policy. It is one of the few policies where literally no experts think it works. The only people who push it are politicians for whom it works swimmingly because the goal is not for they to benefit society, but for them to buy votes. Kenmore is probably on record saying how great of a socialist success Chavez and Maduro have been somewhere on this forum. He doesn't have a great track record on supporting good policy.