Lately, Kane County Chronicle gossip writer Bill Paige has been writing some unflattering remarks regarding Republican Candidates. Whether or not he has not been able to accept that the people of our county chose candidates other than those he deemed worthy should be left up to you to decide. HOWEVER... for once, he hit the nail squarely on the head. Here is his column on Speaker Hastert, featured in the Kane County Chronicle.
Hastert's gain on land deal not out of line
One of the hot stories in the press this week is a real-estate transaction involving Dennis Hastert, and to put it bluntly, most of the articles have been less than kind to the speaker.
In a nutshell, Hastert recently sold some farmland that he had bought a few years ago – and for a pretty nice profit, I should add. The story of Hastert's land sale has caused a stir in the media, with many reporters and pundits at least suggesting that something was amiss. That's not my reaction at all.
As someone who has watched – and profited – as land and real-estate prices have soared in this area of
To back up a bit, those who know me are aware that I don't share a good percentage of Hastert's political views. However, I have genuine respect for the man, and I believe he always has worked for the best interests of his constituents. Said more simply, I plain like the guy. Certainly I would be critical of him if I thought he was pulling a fast one with this land deal, but I don't, and furthermore, it is hard to criticize Hastert for doing the same thing I have done – and hope to do again. I suspect that many of you fall into that category, too.
See PAGE, page 2C
That something is to sell real estate for a profit. The home we own is worth about 85 percent more than what we paid for it; the one before that we sold at a 20 percent profit after owning it less than six months, and selling the one before those two gave us the boost we needed to pull off subsequent deals. It's the way it works.
Land and homes are sold for what the market will bear, with worth and value determined not by what the seller wants, but by what a buyer is willing to pay. There is not one of you homeowners reading this who isn't at least vaguely aware of your home's current value versus what you paid for it. My guess is none of you intend to sell your home for less than market value, or that you would turn down a buyer because he offered too much.
The property Hastert sold was part of what had been farmland in
That's what I've done, that's what you've done, and that's what I assume we hope to continue doing. How is it then that when Dennis Hastert does the exact same thing, it become something dark and suspicious? As far as I can tell, what has gotten some of theses critics in a knot are two issues: the profit Hastert made and the proximity of the land to the proposed
On the first point, yes, he made a killing. Well, good for him; I just wish I had a chance to buy that land. Oh, wait. I did. As did you or any of the people railing against Hastert. The land was – now listen carefully, all you Washington press folks – for sale. If any of us had met the farmer's price or beaten Hastert's offer, we could have bought it.
The second point stretches credulity. The farmland in question lies 5.5 miles from where the
Baloney. That charge makes absolutely no sense at all. The distance – 5.5 miles – is hardly next door, and in case no one noticed, the parkway is many years away from even breaking ground. To put it in perspective, by chance my house is 5.5 miles from I-88. I have no idea what, if anything, that adds to the value, but all I know is that it's a hike through parts of three towns to get there.
In the interest of full compass disclosure, it appears that my home also is 5.5 miles from the "gentlemen's club" in
Unfortunately, Hastert probably is going to have a rough few weeks while this nonstory works its way through the papers and the talk shows. But in the end, he should emerge relatively unscathed. I should hope so, as much for Hastert's sake as for all of us who work hard, save our money, and then invest it with the prime goal of making a profit.
If you and I are able to that without criticism, so should Dennis Hastert.
– Bill Page lives in
