Triple whammy hammers Chicago Homeowners

Today's faire from Pension Tsunami.

• Cook County Property Tax Bills Cause Outrage; Another Increase for Teacher Pensions Coming a Year from Now (Charles Thomas / ABC Chicago)

• Chicago's Mayor Emanuel Defends Record Property Tax Hike as Bills Hit Mailboxes for Police and Fire Pensions (Fran Spielman / Chicago Sun-Times)

• Illinois' Underperforming State Pension Fund Leaves Local Governments With the Tab (Cole Lauterbach / Illinois News Network)

Look at the link on outraged homeowners in Chicago.  Their tax bill is going up 3 fold, that's right.  Look at the Chicago property tax statement, its a complicated mess, before judging.

But Three things are hammering Chicago; Low investment returns for pension funds, general property inflation of 4% per year, and tax hikes to cover pension costs.   Chicago cannot survive, it is being evacuated.