This article from CNN summarizes why 2016 will be a good year for buyers. Simply stated…home prices are near pre-recessionary levels in the Twin Cities, the supply of homes should increase come Spring 2016, mortgage rates are still low..even should the Federal Reserve raise the benchmark in December 2015, and rents continue to escalate where…read more
Undoubtably the Twin Cities Metro Area is within a real housing boom. Seems everywhere you look another crane is constructing another rental hi-rise. The past two years have been banner years for new rental housing as nearly 8,000 new units have been developed. However, not all the rental housing in the Metro Area is located…read more
No doubt about it, buying is cheaper than renting today in the Twin Cities if you have good credit and funds for a downpayment. The rental vacancy rate across the Metro Area is about 3%; indicating a tight rental market and increased rents from landlords. Nearly all of the new rental construction today has rents…read more
No doubt about it, the apartment sector has driving the real estate recover over the past year. Although the Mullins Group estimates there are upwards of 20,000 apartment units in the pipeline throughout the Metro Area, many of these developments will stall out or be cancelled. However, 2013 looks to be a record year for…read more
It has always been a given homeowners have historically had a higher net worth than renters, however new data released suggests owners have a 41% higher net worth! Please see link below for further information: http://www.housingwire.com/2010/11/16/nar-homeowners-net-worth-41-times-greater-than-renters
Today’s article in Finance and Commerce reinterates a common thread among today’s rental market in the Twin Cities – decreasing rents and increasing occupancies compared to 2009. The recession has affected all real estate products, including the historically well-performing Twin Cities rental industry that is typically posting vacancies under 5% (equilbrium) and has posted increasing…read more
