By: Diane Benjamin
Yesterday I was sent a Bloomington-Normal Housing Analysis that is dated April of 2022. Note: the source is NPR. You can see it here: https://npr.brightspotcdn.com/69/5d/501447894b7cb83e9117e436d098/bloomington-normal-housing-analysis-white-paper-april-2022.pdf
I stopped reading it at PDF page 9 because there is a huge problem! Note the McLean County Regional Planning Commission is listed on PDF page 2 as a supporter of the report.
This paragraph is on PDF page 9:
Here’s the problem:
In the Long Range Transportation Planning created by the McLean County Regional Planning Commission in October of 2022 population DECLINE was predicted. See this story with link to that report: https://blnnews.com/2023/08/31/mclean-county-population-projected-to-decline/
This chart is on PDF page 59:
The 2 reports were issued 6 months apart but say exactly the opposite concerning population growth. Note too the McLean County Regional Planning Commission created one of the reports and supported the other.
The first report is being used to say there is a severe housing shortage. It has a couple of other interesting paragraphs that should questions that premise:
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Out migration continues from Illinois to lower tax and regulation states. If the transportation plan is closer to the truth all the multi-family housing developments planned locally mean renters will never have generational wealth and be stuck in Illinois.
You will own nothing and be happy: https://www.sciencedirect.com/science/article/pii/S0016328723001131
I have no doubt affordable housing is needed. Local governments are on a property tax feeding frenzy making housing more unaffordable. High interest rates are a barrier for first time home buyers and buyers who merely want to upsize or downsize their current home.
Note: Government caused both problems. Figure out Limited Government yet?
The two conflicting reports prove the need for 4000-8000 more housing units should be questioned. Developers should be doing their own analysis, don’t rely on what government burps.
Let the market determine what’s needed. If someone is willing to build a bunch of multi-family housing, why should government zoning prevent them? “Figure out limited government yet?”
Are developers using faulty data provided by government? That’s a bigger question than throwing up multi-family housing where there won’t be enough parking.
Buyer (builder) beware.
If they feel it is a good investment go for it.