Re: The Melville Study For Granite City And You Paid For It Archived Message
Posted by Riverbender on January 22, 2019, 8:06 am, in reply to "Re: The Melville Study For Granite City And You Paid For It"
It makes plenty of sense for many to decide not to buy a home at the current time in Granite or any other area in Illinois for that matter. Consider that, as reported by Wire Points, taxes in Madison County have risen from 3.3% of median income in 2000 to 4.7% today. Despite the tax hikes the unfunded pension burdens arising from State, County, Township, School and City pensions continues to rise. Ignoring the matter will just take the matter to where the pension burden per household could very well exceed the value of the property in the future. Despite that nothing has been done to solve the problem one way or another. Illinois recently hiked its tax rate sold as a solution to unpaid bills yet when the tax money rolled in rather than being used for the purpose it was portrayed to solve it instead was just spent on assorted other programs and entitlements. We have a new Governor who's first move was to give State employees a raise estimated to cost 200 million dollars. Obviously we can see that the new Governor's motives are not focused on the financial well being of the State. I personally have been selling off my rental properties wishing they would bring the values that comparable homes do in other areas. I have had so many hopes over the years that Illinois would change but when remembering that our State once had a AAA credit rating that has declined to a notch above junk and the realization that the unfunded pensions are a lien against real estate in Illinois I see no hope on the horizon. Couple the State problems with the more specific Granite City financial issues as well it surprises me that anyone will buy a home here. I had hope in the past but as always with the same individuals/families always being re-elected and re-employed my thoughts of the future is covered with dark clouds. I hope I am wrong but with years of experienced viewing I would bet against the possibility of better things happening in my lifetime. I have given up and assume others have to...otherwise there would not be as much rental property as there is in Granite City because people would buy a home because they want to live in Granite for. a lifetime
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Message Thread:
- The Melville Study For Granite City And You Paid For It - Full Disclosure January 19, 2019, 3:36 am
- Re: The Melville Study For Granite City And You Paid For It - One Of Us January 19, 2019, 7:00 am
- Re: The Melville Study For Granite City And You Paid For It - agnesmarie January 19, 2019, 12:29 pm
- Re: The Melville Study For Granite City And You Paid For It - Tired January 19, 2019, 4:34 pm
- Installment 2 - Full Disclosure January 19, 2019, 7:31 pm
- Re: The Melville Study For Granite City And You Paid For It - Reality January 20, 2019, 7:02 am
- Installment 3 - Full Disclosure January 21, 2019, 1:08 am
- Re: The Melville Study For Granite City And You Paid For It - Tired January 21, 2019, 8:40 pm
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