Housing Market/Economics - General Topics
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
Zero down payment subprime mortgages are returning.
https://www.cnbc.com/2018/10/12/thousan ... gages.html
The requirement to live in the house (not be an investor) and take financial education classes on what you sign up for makes this totally different and safe they are saying.
https://www.cnbc.com/2018/10/12/thousan ... gages.html
The requirement to live in the house (not be an investor) and take financial education classes on what you sign up for makes this totally different and safe they are saying.
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Housing Market/Economics - General Topics
Pretty good opinion piece on the tension between cities and builders that is exacerbating housing shortages in the Twin Cities.
http://www.startribune.com/twin-cities- ... 567890982/
http://www.startribune.com/twin-cities- ... 567890982/
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
Some proposals to rein in Minnesota’s cities regulations that limit the construction of affordable housing.
http://www.startribune.com/lawmakers-wa ... 568637322/
Someone is proposing duplexes be allowed statewide in single family zoning.
http://www.startribune.com/lawmakers-wa ... 568637322/
Someone is proposing duplexes be allowed statewide in single family zoning.
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
We might find out that AirBnB does negatively affect housing supply and thus rents.
https://twitter.com/RobCross247/status/ ... 0565111808
Would be fascinated to see what happens with AirBnB quantity in the Twin Cities with the pandemic, and how many of them are turned over into rentals.
https://twitter.com/RobCross247/status/ ... 0565111808
Would be fascinated to see what happens with AirBnB quantity in the Twin Cities with the pandemic, and how many of them are turned over into rentals.
-
- Wells Fargo Center
- Posts: 1150
- Joined: November 12th, 2015, 11:35 am
- Location: Minneapolis
Re: Housing Market/Economics - General Topics
I don't think anyone doubts that AirBnB has that effect!
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
A few checks of tourist-heavy cities shows the same trend.
https://twitter.com/IamShaneMorris/stat ... 4154247168
https://twitter.com/IamShaneMorris/stat ... 4154247168
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
The housing market collapse Carol Becker told us all to wait around for if someone wanted to buy a house at affordable prices (instead of building enough homes to meet supply) looks like it is coming very soon!
https://finance.yahoo.com/news/mortgage ... 00526.html
https://www.bloomberg.com/news/articles ... e-defaults
https://finance.yahoo.com/news/mortgage ... 00526.html
https://www.bloomberg.com/news/articles ... e-defaults
Re: Housing Market/Economics - General Topics
I'm not sure where to post this, but with other major cities getting hit harder by job losses due to reliance on specific industries (Houston & oil, Seattle and Boeing) is there a chance we'll get some of those residents if we can rebound our economy more quickly?
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Housing Market/Economics - General Topics
An interesting counter force is the huge growth to work from home happening. If our local companies and industries are more resilient that other markets, why bother moving to the Twin Cities if you can stay in Seattle and work for a Minnesota company.
I was thinking that if a large percentage of jobs can move nearly anywhere, would workers look to states with a high safety net or low safety net? A low cost-high safety net might be extremely attractive when it comes to folks’ plans. That might put smaller cities that are near to the Twin Cities higher on places folks might locate to.
I was thinking that if a large percentage of jobs can move nearly anywhere, would workers look to states with a high safety net or low safety net? A low cost-high safety net might be extremely attractive when it comes to folks’ plans. That might put smaller cities that are near to the Twin Cities higher on places folks might locate to.
-
- Metrodome
- Posts: 78
- Joined: June 4th, 2012, 6:15 am
Re: Housing Market/Economics - General Topics
Also will we see more people in Woodbury take a job in Maple Grove if Work From Home is more prevalent?
I know that some people do this now, but will more people do this?
I know that some people do this now, but will more people do this?
Re: Housing Market/Economics - General Topics
At the company I work there's a rule that everyone has to live in Minnesota or Wisconsin. Initially it was partly so they could get called for meeting in the office or for a team-building event or to swap out a defective thin client (we aren't allowed to use our own computers so there's not data breach if one gets stolen) or to come into our office if the internet is down in a reasonable time.
Now the office is shut down, possibly permanently, things are different, but HR still doesn't want to deal with 50 different sets of income tax and employment regulations.
Now the office is shut down, possibly permanently, things are different, but HR still doesn't want to deal with 50 different sets of income tax and employment regulations.
Re: Housing Market/Economics - General Topics
I could see COVID-19 hurting Downtown areas with the work from home trend. I'm not sure how much that will affect metro areas however. Texas is going to be hit hard with job losses and then their budget given their tax structure. Those few metro areas reliant on hard hit industries are going to lose population and go where there are jobs I presume?
-
- US Bank Plaza
- Posts: 731
- Joined: March 4th, 2016, 7:55 am
- Location: Oh, no, the burbs!
Re: Housing Market/Economics - General Topics
Living downtown or in denser areas isn’t just about job proximity. Some people live downtown & work in the burbs.
Living in a dense area gives you walkable & bikeable amenities such as more sophisticated parks, multiple recreational trails, museums, shopping, errands, gyms, stadiums, friends, food, bars, entertainment, etc., etc.
Remember, COVID-19 is short term in the big scheme of things. Little changed about cities after the Spanish Flu pandemic. Working from home is fine for some people (introverts, people with semi-dedicated space for it), but I don’t think it’s ever going to dominate working. And if you’re an extrovert and work from home in the suburbs, you’re going to have a lonely existence.
Living in a dense area gives you walkable & bikeable amenities such as more sophisticated parks, multiple recreational trails, museums, shopping, errands, gyms, stadiums, friends, food, bars, entertainment, etc., etc.
Remember, COVID-19 is short term in the big scheme of things. Little changed about cities after the Spanish Flu pandemic. Working from home is fine for some people (introverts, people with semi-dedicated space for it), but I don’t think it’s ever going to dominate working. And if you’re an extrovert and work from home in the suburbs, you’re going to have a lonely existence.
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Housing Market/Economics - General Topics
Nice MinnPost story on Covid-19’s affect on rental markets.
https://www.minnpost.com/economy/2020/0 ... in-cities/
https://www.minnpost.com/economy/2020/0 ... in-cities/
-
- Moderator
- Posts: 6392
- Joined: May 31st, 2012, 7:27 pm
- Location: Standish-Ericsson
Re: Housing Market/Economics - General Topics
Strib story on how the lumber price spike is affecting apartment projects, both currently underway and in the pipeline. Quotes from Doran and others.
https://www.startribune.com/sticker-sho ... fresh=true
https://www.startribune.com/sticker-sho ... fresh=true
Re: Housing Market/Economics - General Topics
I just built a Pergola and the price for cedar was brutal.
-
- IDS Center
- Posts: 4091
- Joined: June 3rd, 2012, 9:33 pm
- Location: Merriam Park, St. Paul
Re: Housing Market/Economics - General Topics
I just paid 9.99 for a 2x4.
Q. What, what? A. In da butt.
Re: Housing Market/Economics - General Topics
Meanwhile, NYT reporting lumber prices falling back to earth: https://www.nytimes.com/2021/06/21/busi ... price.html
-
- IDS Center
- Posts: 4672
- Joined: July 21st, 2013, 8:57 pm
- Location: Where West Minneapolis Once Was
Re: Subsidized and/or Affordable Housing
The Minneapolis Fed is now tracking trends in investor-ownership of housing in Minneapolis. Over 30% of North Minneapolis single family houses are owned by investors.
https://www.marketwatch.com/story/high- ... 1637710073
This tool lets you zoom around and investigate by census district. https://www.minneapolisfed.org/article/ ... ities-area
https://www.marketwatch.com/story/high- ... 1637710073
This tool lets you zoom around and investigate by census district. https://www.minneapolisfed.org/article/ ... ities-area
Who is online
Users browsing this forum: No registered users and 1 guest