Decline and fall: Chicago area leads nation in underwater mortgages

Chicago's Northwest Side

Why are people abandoning the Chicago area? The metropolitan area's nationally-known reputation for corruption discourages industrious and honest people. Chicago's public pensions are the worst-funded plans in the nation. "Chiraq" is a byword for wanton violence and its schools are a nothing but a jobs and retirement program that on occasion educates students. Illinois is burdened by the highest property taxes in the nation and Chicagoans pay the nation's highest sales taxes.

Chicago is the only major city with negative population growth.

So it should be no surprise that the Chicago area leads the nation in underwater mortgages.

Decline and fall.