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| Chicagoland : Rent or Own? https://mail.chicagofanatics.com/viewtopic.php?f=47&t=114244 |
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| Author: | HawaiiYou [ Sat Sep 22, 2018 10:18 pm ] |
| Post subject: | Chicagoland : Rent or Own? |
When I visited last summer, they had an issue all over the news that the property taxes got bumped up a lot and lot of people were losing their homes since they could no longer afford the property tax. I think that is what I understood. Is that right? And has it gotten worse? Is it better to rent or own in Chicagoland? It's got the highest property tax in the country right? |
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| Author: | badrogue17 [ Sat Sep 22, 2018 10:26 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
They have that Marina City going in pretty soon. Supposed to be nice rentals. |
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| Author: | W_Z [ Sat Sep 22, 2018 10:55 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
We rent. Once they pass the law that says if you can conquer property in order to own it, I will brandish my sabre and take what is rightfully mine. Huzzah. |
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| Author: | One Post [ Sat Sep 22, 2018 11:09 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
So you mind fucked me on all those Houston questions and you are moving to Chicago? |
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| Author: | Kirkwood [ Sun Sep 23, 2018 8:36 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. |
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| Author: | Terry's Peeps [ Sun Sep 23, 2018 11:08 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
https://www.youtube.com/watch?v=Q6qbKZfsqfI |
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| Author: | HawaiiYou [ Sun Sep 23, 2018 11:26 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
One Post wrote: So you mind fucked me on all those Houston questions and you are moving to Chicago? you're on to something. Houston is still an option but I'd have to help out my sister. thinking about going back to Chicago. Not immediately but a 3-5 year plan per the help I'm getting but not going to get into that. Sure I'll bitch about the winter and will need to buy those lights but I think i'd feel more secure there if that makes any sense. Only problem is those fucking taxes for everything. People don't realize that Chicago cost of living is right up there with some of the most expensive areas of the country because of those political crooks taxing everything. I would enjoy the food and the city. And of course one of the most well mannered and polite citizens in the United States. Just thinking about it. |
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| Author: | good dolphin [ Mon Sep 24, 2018 2:39 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
HawaiiYou wrote: [ People don't realize that Chicago cost of living is right up there with some of the most expensive areas of the country because of those political crooks taxing everything. . Are you talking about places like Minneapolis or real cities. I'd venture to guess that Chicago is nowhere near the cost of living of NY or LA. Honolulu for that matter, is probably more expensive than Chicago. |
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| Author: | good dolphin [ Mon Sep 24, 2018 2:42 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
Kirkwood wrote: Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. What is the unknown? Is there some conspiracy theory about the government taking your property without compensation? Except for a few short years of disaster across every economic sector real estate ownership has been about as stable as investing in a savings bond |
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| Author: | whistler [ Mon Sep 24, 2018 8:04 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
HawaiiYou wrote: When I visited last summer, where do u currently live? |
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| Author: | Zippy-The-Pinhead [ Mon Sep 24, 2018 8:18 pm ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
HawaiiYou wrote: When I visited last summer, they had an issue all over the news that the property taxes got bumped up a lot and lot of people were losing their homes since they could no longer afford the property tax. I think that is what I understood. Is that right? And has it gotten worse? Is it better to rent or own in Chicagoland? It's got the highest property tax in the country right? Fortunately property owners in Chicago don’t factor property taxes into their rental rates so that shouldn’t be an issue. |
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| Author: | Ogie Oglethorpe [ Tue Sep 25, 2018 9:54 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
good dolphin wrote: Kirkwood wrote: Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. What is the unknown? Is there some conspiracy theory about the government taking your property without compensation? Except for a few short years of disaster across every economic sector real estate ownership has been about as stable as investing in a savings bond Most of the country is seeing a healthy appreciation in real estate values right now. Illinois is being left out though, which is kind of expected when the state is seeing a net loss in migration. |
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| Author: | good dolphin [ Tue Sep 25, 2018 9:57 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
Ogie Oglethorpe wrote: good dolphin wrote: Kirkwood wrote: Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. What is the unknown? Is there some conspiracy theory about the government taking your property without compensation? Except for a few short years of disaster across every economic sector real estate ownership has been about as stable as investing in a savings bond Most of the country is seeing a healthy appreciation in real estate values right now. Illinois is being left out though, which is kind of expected when the state is seeing a net loss in migration. but there isn't depreciation and there isn't expected to be |
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| Author: | Ogie Oglethorpe [ Tue Sep 25, 2018 10:03 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
good dolphin wrote: Ogie Oglethorpe wrote: good dolphin wrote: Kirkwood wrote: Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. What is the unknown? Is there some conspiracy theory about the government taking your property without compensation? Except for a few short years of disaster across every economic sector real estate ownership has been about as stable as investing in a savings bond Most of the country is seeing a healthy appreciation in real estate values right now. Illinois is being left out though, which is kind of expected when the state is seeing a net loss in migration. but there isn't depreciation and there isn't expected to be The value are not depreciating, but they aren't gaining either. It's not a bad idea to own as you get to lock in a fixed price for 15 or 30 years (whereas rent can go up year over year) and you get equity back. However, I wouldn't consider Illinois property if I was buying real estate as an investment rather than just a place to live. I would say the outlook isn't pretty for Illinois either. That pension time bomb is going to burst, and when it does the state Constitution pretty much requires that there will be a massive tax increase that will push even more people out of the state. |
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| Author: | long time guy [ Tue Sep 25, 2018 10:15 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
good dolphin wrote: Ogie Oglethorpe wrote: good dolphin wrote: Kirkwood wrote: Rent. I want nothing to do with owning Chicago/Illinois property. Way too many unknowns. What is the unknown? Is there some conspiracy theory about the government taking your property without compensation? Except for a few short years of disaster across every economic sector real estate ownership has been about as stable as investing in a savings bond Most of the country is seeing a healthy appreciation in real estate values right now. Illinois is being left out though, which is kind of expected when the state is seeing a net loss in migration. but there isn't depreciation and there isn't expected to be The value of my crib has doubled in the 7 years that I have owned it. If you live in Loop area or surrounding area you are good in Chicago. That kook doesn't know what the hell he is talking about. Real Estate in Chicago is doing just fine. It is actually one of the main reasons that a number of people have moved out. They have been effectively priced out. |
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| Author: | Ogie Oglethorpe [ Tue Sep 25, 2018 10:21 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
Some data on Illinois property values. https://www.illinoispolicy.org/reports/ ... rices-lag/ https://www.ilnews.org/news/economy/rep ... c1a1f.html |
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| Author: | long time guy [ Tue Sep 25, 2018 10:43 am ] |
| Post subject: | Re: Chicagoland : Rent or Own? |
Fool still doesn't realize that the title of the thread is Chicagoland and not Illinois |
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