> In both cities the problem > seems to be > runaway home prices in the late '90s that forced > many buyers into > highly leveraged mortgages. Thanks to an epidemic of > "flipping" in the > late '90s, finally brought under control by our DFL > legislators, many > homes in Minneapolis are mortaged for far more than > their current > value.
perhaps there is a real estate agent out there that can give us some accurate info on the housing market here in minneapolis. Most say the rise in housing prices is largely due to record low interest rates. > The unrest > that accompanies same will not benefit our > neighborhoods, and as > property values are in free fall some owners will do > desperate things- > like knowingly renting to criminal enterprises and > arson for insurance. I bought my home a year ago and have already seen an appreciation of over 30%. Homes were climbing in all areas I searched the year before I purchased. Those areas were longfellow, camden, northeast and south of 36th. They are still climbing but I suspect they will soon plateau then again I told myself that two years ago. As for why I "settled" in minneapolis? I moved hear because I worked downtown and getting there other then by car was not easy from the east side of st paul where I grew up. I originally wanted to buy in NE but found the houses needed too much work for me to justify their cost. Found the perfect place in webber-camden. I suspect I will be here for a long time, unless I can get a job that allows me to move back to St. Paul. John Harris webber-camden __________________________________ Do you Yahoo!? Yahoo! Finance: Get your refund fast by filing online. http://taxes.yahoo.com/filing.html REMINDERS: 1. Think a member has violated the rules? Email the list manager at [EMAIL PROTECTED] before continuing it on the list. 2. Don't feed the troll! Ignore obvious flame-bait. For state and national discussions see: http://e-democracy.org/discuss.html For external forums, see: http://e-democracy.org/mninteract ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Un-subscribe, etc. at: http://e-democracy.org/mpls
