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“Political Risks” Cool Investor Appetite for Chicago
Chicago, New York and San Francisco all rank in the top five of global markets in which investors plan to decrease their exposure, according to the latest international investor survey from A Fellowship for International Real Estate (AFIRE).
However, New York and San Francisco also rank in the top five of global markets in which investors plan to increase their exposure, according to the AFIRE survey. Chicago does not.
“You’ve got political risks—the pension overhang and rising tax levels,” AFIRE CEO Gunnar Branson, a Chicago resident, told Crain’s Chicago Business.
However, in his conversation with Crain’s, Branson said the city and state’s fiscal problems are manageable. He emphasized the Chicago region’s most valuable assets, including O’Hare International Airport and Lake Michigan.
“Chicago still remains a magnet for talent,” he said. “Where do people go if they grow up in the Midwest? They go to Chicago.”
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