Small abandoned home in Detroit.
A little over a week ago, I used photos taken by Marathon Pundit‘s John Ruberry to compare deteriorating neighborhoods in Detroit with those in Chicago.
The main difference I noticed what that abandoned homes in Chicago were boarded up, while those in Detroit were not.
Small abandoned home in Chicago.
Now comes the Chicago Tribune with an article with the intriguing headline,
“Chicago Trails Only Detroit in Bank-Owned Homes”
Chicago Tribune article comparing housing in Chicago and Detriot.
“Chicago has the second-most vacant bank-owned homes in the country after Detroit, according to Attom, parent of RealtyTrac,” the Tribune says.
Empty homes:
- Detroit – 2,386
- Chicago – 2,379
Pretty much a tie.
Just symptoms of a dying DEMOCRAT controlled city/state.
Pay no attention, move along … move along.
Foreclosures in the Chicago area are down 21 percent compared to this time last year.
But vacancies in Chicago after the foreclosure process has been completed are up over 90 percent compared to a year ago.
Not mentioned in the article is Chicago had a tax hike that was already sent to property owners to fund Chicago police and fire pensions and school construction, the Mayor agreed to a tax hike to fund Chicago public school (CPS) pensions (Chicago Teacher Pension Fund aka CTPF), and the Chicago City Council will vote next week on a water and sewer fee hike to fund another pension fund (MEABF).
Plus the City has a horrible credit rating from the credit rating agencies which hikes the bond interest rate that taxpayers pay on bond issues.
One reason the credit rating is so low is due to underfunded pensions.