There have been numerous stories recently about the tightening supply of rental housing in the Twin Cities. The latest story from Star Tribune details the struggles some renters have had in finding a place to rent and reveals to us that the apartment vacancy rate in the Twin Cities is now at an astoundingly low 2.4%.The housing boom created strong demand for condo conversions, which ate up a lot of rental housing. Then the housing bust killed demand, financing and developer interest in building more apartments. … [Read more...]
Don't Buy A House
December 2, 2010 by 2 Comments
I am a real estate salesperson, which means I make money selling homes. But guess what? Not everyone should buy a home, and I don't mind telling you that. The housing market today and for the next couple years will continue to be hampered by foreclosures and short sales but, even more importantly, by a weak job market and tons of homeowners who cannot afford to move from their current homes. This means that even when the housing market stabilizes and starts to rise, that rise will be heavily tempered by … [Read more...]
