You might have missed Greta Kaul’s excellent article in Minnpost a while back, bringing some data into the conversation about the Twin Cities housing market. It is well worth your time and describes how the rental and home markets have changed over the last 5-10 years.
Here’s one of the charts that caught my eye:
People often think that renters are, by default, also people without who are in the lower income brackets. But that’s becoming less the case over the last few years. Describing the chart, Kaul writes:
Many of these new, higher-income renters might be homebuyers if it weren’t for a small stock of starter homes available, said Chip Halbach, the executive director of the Minnesota Housing Partnership, who has been working on housing affordability in the Twin Cities since the late-’70s.
There are a bunch of other great bits of data in the piece, showing the effects of the area housing shortage in different ways. Check it out!
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