Housing fuels building boom, especially in Minneapolis

  • Article by: Jim Buchta , Star Tribune
  • Updated: January 9, 2014 - 5:41 AM

Building permits issued in Minneapolis have exceeded $1 billion for the second year in a row. Leading the trend is rental housing.

  • 32
  • Comments

  • Results per page:
samiamJan. 9, 14 2:12 AM

Most of the construction workers don't live in the city

8
13
kallman11Jan. 9, 14 6:27 AM

Let's add to that the fact that the economy doesn't get the same kind of bump with this type of construction. Renters aren't out buying furniture, appliances, lawnmowers, etc. This grand plan to cram everybody into the urban core will do no good.

9
26
bradmg1979Jan. 9, 14 6:31 AM

The bubble will soon burst

9
14
chuckdancerJan. 9, 14 7:24 AM

kallman11 Jan. 9, 14 6:27 AM " Let's add to that the fact that the economy doesn't get the same kind of bump with this type of construction. Renters aren't out buying furniture, appliances, lawnmowers, etc. This grand plan to cram everybody into the urban core will do no good." ****************************************** Yes, absolutely correct. Renters are conspiring against the boys and they all live in empty new apartments.

19
6
drposterJan. 9, 14 7:42 AM

@chuckdancer, it's not a slight. As a new home owner the things you don't even think of.. Roof rake? Assorted tools, it doesn't stop. All the things you call your landlord for (who already has the tools) are now your responsibility.

6
11
getcrazyJan. 9, 14 7:47 AM

@kallman11---"Let's add to that the fact that the economy doesn't get the same kind of bump with this type of construction. Renters aren't out buying furniture, appliance"---People are paying more in rent than they would for a mortgage in the third tier suburbs and they aren't buying furniture? They don't buy new refrigerators and stoves for these new rental units? Are they fishing appliances out of the river that have been dumped illegally? The pretending that nothing is happening to push a political dogma is getting really, really old.

20
6
mnnative5Jan. 9, 14 8:09 AM

@kallman - You're referencing disposable income. It gets spent whether or not it's toward a dishwasher, roof rake, a tip for a restaurant worker in minneapolis or a new city bike. You're half right, the same dollar won't be spent at home depot but rather whatever the apartment owner enjoys spending his/her money on having little/no impact on overall economic activity. What brings more economic activity is an increase in disposible income for the masses or a growth in population which is what Minneapolis seems to have demand for.

13
5
br00talJan. 9, 14 8:48 AM

Who uses a roof rake? Fix your insulation issue! As a former renter and recent home owner in Minneapolis, I can say that yes, you do have to buy a lot of "stuff" (tools, appliances, etc.) that you don't as a renter, but I feel that offsets what I used to spend on dining out, going to shows, movies, etc. when I used to rent. At least for me, being a homeowner has simply shifted my costs and not increased them. It's all still disposable income.

16
6
littlebootsJan. 9, 14 8:55 AM

Good news for Minneapolis. Bad news for Saint Paul. Still, the building boom in Minneapolis is utterly laughable by Seattle standards.

0
18
dtmonkeyboyJan. 9, 14 8:59 AM

a downtown dweller now,it is true that I no longer have a roof rake - but instead I go to the theater, eat out, donate to charities, drop in at First Avenue, go to sporting events etc. I also spend money on things like Cross Country skis, bikes, fishing gear and other things that fill up my abundant free time. Believe me, you don't stop spending when you sell your house.

6
5

Comment on this story   |  

ADVERTISEMENT

more from real estate

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters