Tag: Government regulations

Chicago Affordable Housing Requirements Make Homes Less Affordable

Chicago Affordable Housing Requirements Make Homes Less Affordable
Well, I knew it had to be true. On several occasions I’ve posted on how Chicago’s affordable housing requirements most likely just end up exacerbating the problem, as in this post from 1 1/2 years ago: Chicago’s Affordable Housing Quagmire About To Get Deeper. As I said at that time:   So who pays for... Read more »

Is Government Interference In The Real Estate Market Such A Bad Idea?

Is Government Interference In The Real Estate Market Such A Bad Idea?
It looks like real estate populism is alive and well in Chicago and Illinois with growing support for the government to step in and “fix” the real estate market here. You know…stop bad things like rising rents and high home prices through rent control and affordable housing requirements. Never mind that Chicago is probably already... Read more »

Chicago Finally Gets Rational About North Branch

Chicago Finally Gets Rational About North Branch
9 years ago I wrote a post about the insanity of a steel company located on expensive Lincoln Park real estate: Why Finkl & Sons Is In Lincoln Park. I guess it took 9 years for the city of Chicago to realize that I was right about the best use of this land and give... Read more »
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Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer

Free Money: Lender Giving Away Up To $20,850 To Each Home Buyer
Seriously. I kid you not. Free money. There is some lender out there giving home buyers up to $20,850 each! And you better believe that the government is almost certainly behind this. I was contacted by one of our mortgage bankers the other day with news of this incredible program and it is indeed for... Read more »

Illinois HB 1376: $500 Sewer Camera Inspections To Be Required On All Home Sales

Illinois HB 1376: $500 Sewer Camera Inspections To Be Required On All Home Sales
How would you like to spend another $500 when you sell your home? In addition to thousands of dollars of closing costs you are already responsible for. Well, Illinois HB 1376, also known as the plumber full employment act and introduced by Rep. Luis Arroyo of the 3rd district, will cost you an additional $500... Read more »

4 Really Crazy Homeowner Tax Laws

4 Really Crazy Homeowner Tax Laws
We all know just how crazy the tax laws are in this country. The CCH version of the income tax regulations runs 14,144 pages but that’s what happens when you commandeer a revenue generating process for social engineering. And it turns out that the country’s housing policies contribute to the problems with some really crazy... Read more »
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How The Government Actually Makes It Harder To Buy And Sell Short Sales

How The Government Actually Makes It Harder To Buy And Sell Short Sales
In response to my last blog post about how a bank refused to pay my commission on a short sale that I was buying for myself the Chicago area MLS did some further research on the issue and was in contact with the Chicago Association of Realtors with their findings. They referred me to so... Read more »

Only 5 More Years Of Real Estate Pain

Only 5 More Years Of Real Estate Pain
At the Five Star MPact Mortgage Banking Conference and Expo on Tuesday Fannie Mae’s chief economist, Doug Duncan, declared that we are half way through a 10 year adjustment period in real estate. It seems to be a rather bleak assessment of the future for real estate. After all, I assumed that once the economy... Read more »

Government Price Controls Mandate Higher Compensation For Loan Officers

Government Price Controls Mandate Higher Compensation For Loan Officers
It seems that the damn government just can’t keep their hands off the economy. Of course, with such a great track record, can you blame them? The bureaucrats love to believe that they can micromanage any aspect of any industry but in reality there’s no getting around the laws of economics or the law of... Read more »
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