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Herding Cats Around The ‘Immaculate Disinflation’
Traders and investors will get a welcome reprieve from top-tier US economic data in the new week.
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My property tax bill came in at 189% above yesteryear (appeal to no avail). That puts next year’s shelter inflation for this homeowner on the south side of Chicago at a 20% y/y increase. Nice try Jerry
I would be very careful about owning any home where there is a high probability that the government will be (greedily) pushing to significantly increase real estate taxes.
I recently looked up the value of a home I used to own on Zillow, which was located in a north shore suburb within Cook County. Seventeen years after selling that home, the current Z estimate is about the same as what the home sold for in 2007, however, the annual real estate taxes have tripled. I then compared that 300% increase to the inflation rate from 2007 to 2023 was about 40%. I was not and still am not a fan of Cook County.