Look for it real close. The first time I read it, I missed it. Daley admits the housing market is in trouble.
Mayor Daley admits to housing slow down
It's designed to raise $1.1 million to help plug a $10 million hole in Mayor Daley's 2007 budget caused by weather-related overtime and lower-than-anticipated tax revenue tied to the housing slowdown. Daley has also cut off non-emergency overtime and suspended hiring unrelated to public safety.
...
Earlier this week, Daley declined to rule out a post-election tax increase. "We don't know yet. . . . It's a critical time. The economy has slowed down. Housing has slowed down. The [real estate] transfer tax has slowed down. You start making decisions much earlier than later," he said.
Having watched the housing market unravel in the last year plus, there is one problem. Sellers' expectations are too high. The boom years are past and gone. Maybe if people were not so greedy, and lowered their prices commerce could commence!
3 comments:
stuck,
check this one out
http://realtytimes.com/rtapages/20070607_skyfall.htm
Then again, what does Daley care? He has all ready been re-elected, but more importantly, he has a damn house!
The bottom line is that this city's administrators are so liberal that they would rather implement mixed income housing programs for "the poor" rather than help out the middle class. Chicago is no longer a blue-collar city. Daley denies these roots with every decision he makes!
stuck,
check this one out
http://realtytimes.com/rtapages/20070607_skyfall.htm
June 9, 2007 9:07 PM
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I almost threw up.
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