Posted on 04/06/2016 7:35:20 AM PDT by SeekAndFind
The rich have the means to vote with their feet and Chicago's millionaires are apparently not shy about expressing their preferences.
A report by the research company New World Wealth, about 2% of Chicago residents woth a million dollars or more (not including their primary residence) fled the city citing racial tensions and the high crime rate. That's more than 3,000 individuals how decided to get while the going is good.
Chicago was among four cities worldwide with the biggest flight of millionaires. Paris saw the largest exodus.
The French city lost 7,000, or 6 percent, of its millionaires, followed by Rome, which lost 5,000, or 7 percent.
Chicago was next, followed by Athens.
Most of the millionaires who left Paris and Rome fled their countries, while Chicagoans moved elsewhere in the United States, said New World Wealth, whose data is used by luxury-goods companies, private banks and real estate professionals, among others.
Findings of the New World Wealth report are consistent with a Nielsen study released late last year that showed Chicago is losing large numbers of affluent African-Americans.
The Nielsen report found that the Chicago area has fallen out of the top echelon of U.S. cities when it comes to the percentage of black households earning more than $100,000. In 2000, Chicago ranked seventh among the cities with the largest percentage of black households with income at that level or higher, but in 2015, Chicago had dropped out of the top 10.
In the New World Wealth report, the country with the biggest net outflow of millionaires was France, with 10,000. It was followed by China, Italy, India and Greece.
(Excerpt) Read more at americanthinker.com ...
Living about 4 hours north of Chicago here in Wisconsin, we get a fairly large amount of people leaving the Chicago area, my only wish is that those “millionaires” would move here instead of all the “gibsmedats”.
The government (our tax money) subsidises the gibsmedats. I just recently saw reference to an article on the Second City Cop blog about how Section 8 is subsidising certain connected gibsmedats to rent million dollar condos, with us paying the the majority of the rent, them paying (if they bother) the remaining couple of hundred.
I knew of this already, it was just a reminder. There’s so much gibsmedat going on from the top and the bottom that to keep up with it all would make one’s head spin. We in the middle just look on as we get squeezed from both sides.
A lot are now in Florida. Their money goes a long way here. Just like my family left Maryland for Florida. Selling the house in Maryland, I could have bought 4 homes here in Florida. Only bought 1 though. Lol.
I hear you.
I grew up in the Washington, DC, area, in the Maryland suburbs. No way I could afford to buy the house I grew up in.
I wish I was a millionaire so I could move!
Need my stock to go about 10 times more.
Maybe I will open a Kickstarter or GoFundMe page. Please contribute.
Chicago, Detroit II coming to you thanks to Rahm Emanuel and the Gibbsmedats!
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