Could we be looking at an urban exodus in Chicago?

It seems like the writing is on the wall when it comes to real estate in Chicago, I wonder if urban dwellers actually see it.

In Cook County and Chicago we are facing some serious issues with county and city government. With two large political machines in charge, Todd Stroger in county government who managed to ride on his daddy's coat tails to a victory. Todd Stroger, who has consistently upheld the wasteful patronage that his father instituted over decades of waste and corruption. And the Daley machine in the city of Chicago: both Daley and Stroger seem poised to impose some of the most brutal tax hikes in Cook County or Chicago history.

There's speculation on many levels as to why this is. Many within Cook County believe that Mr. Stroger is making room for more patronage programs hiring friends and family members into do nothing jobs at high salaries; all on the backs of the taxpayers. As for Mayor Daley, who has been untouchable as far as scandal is concerned, I think the prevailing opinion of his motives are pretty transparent. Mr. Daley really wants Chicago to host the summer Olympic games. He's spent tons of time and taxpayer money, (on top of private money), to woo the Olympic committee in an attempt to get Chicago anointed. But he has a way to go and he's starting to look toward the taxpayers for help.

There is no doubt that Daley has done a lot of good. Unlike his county counterpart who has accomplished nothing more than being the heir apparent to wasteful patronage, the mayor has done a lot to beautify, improve and strengthen the city of Chicago. At least, on the surface, the improvements are apparent.

But if you peel back the layers of the onion, many people, particularly property owners within the city of Chicago, are becomming increasingly disenchanted. One of the most problematic issues pertains to Chicago public schools. Many people who live in the city, and this is by their own testimony, have related to me that despite the cost of their property, (in many cases, I'm talking about people who have paid 600k up to well over 1million for a home), the city has been unable to produce a satisfactory public school in their area; despite their enormous tax bills.

For many of these people, they have opted for pricey private schools. I even spoke to one gentleman recently who has 2 children, both of whom go to the British School in Chicago, and for whom he pays approximately $20k per year each for tuition. His personal property tax bill is already in the high teen yet, for that money, he doesn't feel confident in the public services this money is supposed to provide so, as a result, he pays over $40 thousand dollars per year for his young children to attend school. All, ostensibly, for the "privilege" of residing in the city of Chicago. So when people like this see that the county wants more money; that the city wants more money; they begin to wonder if it is really worth it to continue to reside in either.

The city of Chicago and Cook county are on a very precarious, very slippery slope in regard to their opressive taxation. For years, there has been a "natural" cycle of people flowing into the city and then, conversely, flowing out of the city. I believe these cycles are generally every 5-15 years. This was a phenomenon that was, at one time, referred to as "white flight" where, theorhetically, "white" people left a city because of encroachment of too much integration in their areas. In this case, I can see the flight on the horizon but it has absolutely nothing to do with color. If Mr. Stroger and Mr. Daley continue to levy increasingly oppressive taxes, this flight will be strictly economic. It will, without a doubt, either lead to a massive, Boston Tea Party like revolt, or will inspire a quiet revolution. A revolution that will slowly drain Chicago and its Mother county of taxpayers and will leave a legacy for years to come.

People feel helpless. People don't feel their interests are being fully represented. People are sick of being robbed of their hard earned money.

And people are finding that there is little that the city offers that they can't find in many suburban areas. People are discovering they can find reasonable homes with good schools that are supported by fair local taxes in counties beyond Cook county. People are discovering that, no matter what color they may be, or what their personal circumstances are, a better quality of life often lies within 20 or 25 miles of the city, out of the reach of greedy king Richard and prince Todd.

If this trend continues, the people will leave the city. The jobs will relocate to the suburbs as well because they'll also have more incentive to do so and, if I'm right, Mr. Daley will be sitting by himself with his Olympic torch and Mr. Stroger won't have the money to hire any more of his friends and relatives. The people, and the money, will be gone.

The leaders in both city and county government need to take heed. For if they continue on this paty, we could be looking at a massive urban exodus.

There has to be a better way if Chicago and Cook county are going to survive.

Increasing taxes is not the answer.