By: Diane Benjamin

Interest rates were kept artificially low for far too long. It allowed everyone access to cheap money that allowed living above their means – including government who took advantage of unrealistic money value.

See this link for an historical look at mortgage interest rates: https://money.usnews.com/loans/mortgages/articles/historical-mortgage-rates

Government and the Federal Reserve created the mess housing is currently in. Because of the massive debt created by low interest rates, a huge reset has to occur and is.

Do you want government to fix what they created?

City Manager Jeff Jurgens stated at the end of June the Council will see options. A reset will be painful but if it doesn’t happen the eventual pain will only be worse.

Options discussed:

-Buyer incentives

-Builder incentives

-Zoning changes

-Land Trust

The Land Trust was suggested by Mark Adams, McLean County Community Planner and also Unit 5 Board member. At the December 20, 2023 Unit 5 School Board meeting he declared you have a “social contract” to pay whatever Unit 5 says you have to pay. (paraphrased). See his comment at 1:00:41 https://vimeo.com/showcase/8463934/video/877948037

I’m sure Mark, partner of alderman Cody Hendricks, believes you have to fund affordable housing too. (also called socialism)

Nobody suggested redirecting Community Block Grants funds to rehabbing housing. Nobody suggested letting the markets sort out the problems itself. In other words, government wants to prevent a reset to reality. It appears tax dollars will be used to interfere with free markets.

Just hit play to hear what Donna Boelen thinks should happen:

Many Comprehensive Plans were created under Tari Renner. They don’t leave any room for changing conditions. Pretending they are gospel leads to bad decisions. All of them should be shelved permanently.

The Comprehensive Plan supposedly covers 2015-2035. PDF page 3 has the projected population growth way off. Bloomington needs more than 7000 people to move in by next year to meet projections. https://www.bloomingtonil.gov/home/showpublisheddocument/12050/636229383996330000

Since approved building projects aren’t happening, neither will that.