So, the housing permit numbers for the Twin Cities are in.
And if putting people in houses is your goal, they are…uh, not good:
Saint Paul:
And Minneapolis:
Was it rent control? Bidenomics?
Why choose?
5 thoughts on “When A Plan Comes Together”
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Only greedy landlords refuse to lose money.
In the olden days, people who couldn’t afford to live in a nice place lived in a crappy place until they could afford to move to a nicer one. Ask me how I know.
Nowadays, being forced to live within your means is a hate crime. The solution is for government to require every landlord to provide granite countertops and stainless steel appliances, central air and high-speed cable, to accept pit bulls and welfare recipients, but prohibit background checks, credit checks, or court records checks for prior evictions. Then provide free lawyers for tenants to fight landlords and punish landlords for every slightest infraction; and raise taxes and fees but cap rents; and the supply of clean, decent, safe, affordable housing will surely explode.
It’s the law of Supply and Demand. We demand it at a price we’re willing to pay so you are required to supply it, regardless of the cost to you. That’s just basic economics. How hard is it to understand?
If we are indeed headed into, or already into, an economic slowdown, I would ordinarily expect that interest in rental properties would go up, not down. So this is quite troublesome, IMO.
Regarding John’s comment, my in-laws manage a number of low income properties, and while one can quibble with some of the specifics, the general tone is right. The demands on landlords are often extreme, and the rewards few.
No way in hell that I’d build a house in the TC unless I was guaranteed it’s sale and it would be at premium price.
Unexpectedly!