The issue with Chicagoland isn't the property taxes currently, it's the uncertainty on the guaranteed raises that will occur. Sure, you can buy a $650,000 house in the city and pay $13k/yr in property tax, but that might go up to $20k/yr at which point you're underwater on your mortgage and spending an extra $800/mo.
I have the money to buy and the day the city files for bankruptcy and restructures their pensions is the day I purchase. But not a second sooner.
I have the money to buy and the day the city files for bankruptcy and restructures their pensions is the day I purchase. But not a second sooner.