By: Diane Benjamin

According to US Census Bureau estimates both Bloomington and Normal are losing population: https://www.illinoispolicy.org/did-neighbors-leave-your-town-last-year/

With population declining, why is there a housing problem?

Tonight the Bloomington City Council will discuss local housing needs:

This group will think they can fix available housing with incentives or government housing.

According to the McLean County Regional Planning Commission report, the biggest reason people consider leaving McLean County is property taxes: https://mcplan.org/projects-and-programs/regional-housing-recovery-plan

When housing prices correct themselves or their is a downturn like 2008-2009 property taxes won’t go down. Government never decreases taxes to conform with changing conditions. Property taxes will continue to increase, so will the exodus of people.

The biggest problem I see with local housing is people aren’t selling their home to move to another local home that fits their needs. With high interest rates they can’t afford to. Available homes are therefore limited and prices are higher because of the shortage. Extremely low interest rates were never normal, everybody just thinks they were since rates were kept artificially low for too long.

A reset is needed without government interference. Good luck seeing that happen.