Star Tribune Wed, 16 Apr 2008 05:05:56 GMT
For rent: A lot more single-family homes in MInneapolis
Single-family homes in Minneapolis and nearby cities are turning into rental properties at such a fast clip that public officials are alarmed. The change means homeowners are more likely to have renters for neighbors. It also brings worries that the housing stock will wear out faster and neighborhoods will be more transient. It requires more city inspections to prod landlords to keep up their properties. "It'll take us a decade to dig out of this, even if we have the tools," Minneapolis Council Member Gary Schiff said Tuesday. Non-homestead property traditionally has made up less than 8 percent of the Minneapolis single-family housing stock. But in a six-year trend that predates the recent wave of foreclosures, that's shot up to 18.6 percent. That's 6,400 more rental homes. "It just precipitously jumps," said Hennepin County Commissioner Mark Stenglein. "I think that's alarming.
[[keywords: Housing;Living;PropertyTax;Metro;]]
No comments:
Post a Comment