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A comment on Home ownership is not the boon to older Americans that it once was. Parent comment

Re:Home ownership is not the boon to older Americans that it... by tptacek on Sunday May 12, 2024 @11:54PM (#40339657)
I don't know. I'm pretty well acquainted with the Chicagoland fiscal situation, which is real and ugly, and this "add $85k" thing seems like a just-so story. Can you show your work getting to that figure?
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Re:Home ownership is not the boon to older Americans that it... by bombcar on Monday May 13, 2024 @09:36AM (#40343212)
It's probably some math involving "unfunded liabilities" that the government has (usually oversized pensions or something).

This can cause a cascade where the governmental entity that has the liabilities keeps raising taxes on its constituents so they keep moving outward to the suburbs or away.

Detroit is a famous example of this, but it's happened to other areas (cities have gone bankrupt before).

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