Illinois Policy: 'Taxing the rich to help the poor is nonsense' in Illinois

Orphe Divounguy explained why property taxes in IL are so high and the mortgage delinquency rate doubling.

The Annie Frey Show
June 17, 2020 - 3:23 pm

As we reel in from Coronavirus, homeowners in the state of Illinois are suffering the same as they would outside of the pandemic.

Chief economist Orphe Divounguy said home prices in Illinois have not grown very much. Illinois Policy forecasted that the mortgage delinquency rate could double this year.

“That’s really scary,” he said. “You can pretty much forget about an economic recovery.”

On top of this, the property taxes are astronomical.

“A lot of our property taxes have been going down this pension hole,” he said. ​