It’s foolish to think that garnishments are going to solve anything. Taxpayers in municipalities across the state – who already pay the highest property taxes in the nation – have been putting more and more money into pensions, only to watch the funds continue to deteriorate.
Despite a doubling of taxpayer contributions since 2005, police and fire pension debts have doubled to $10 billion instead of shrunk, while funding ratios have fallen.
Every city wants to have a strong local economy, high quality of life and housing affordability for its residents. Unfortunately these three dimensions represent the Housing Trilemma. A city can achieve success on two but not all three at the same time.
Check out the graphic above courtesy of the Oregon Office of Economic Analysis. I may have been biased about life in the middle but never had the facts to back up my opinions. But after reading this article I now have facts. This analysis demonstrates a city can have success on two fronts, but rarely on all three.
I started life in New York and grew up in New Jersey. A sizeable amount of time was also spent in Dallas. For over a decade I’ve held the belief that my family could not replicate our lifestyle and quality of life anywhere else in the country. Well, I admit to being wrong. We could probably do as well in Cincinnati, Omaha, or Des Moines.
If you can stand the weather, OKC is not a bad place to live in.