Homeownership In the News – Minnesota Level
This month we’re looking at news and developments on the homeownership front. Today – a few state level hot topics here in Minnesota.
- The Center recently worked with the Spokesman Recorder newspaper to dispel some of the myths around homeownership and lay out what prospective buyers can do today despite a tight housing market. The piece was titled Buying a Home In a Sellers’ Market.
- The median home sale price for the Twin Cities hit $285K in May, fueled in part according to the Star Tribune by an increase in the sale of upper-bracket homes and a dearth of available low-cost homes. Read the full story here.
- The Center and the Homeownership Opportunity Alliance are cosponsoring an upcoming screening of “Jim Crow of the North” – a TPT documentary detailing the spread of racist, restrictive real estate covenants in Hennepin County during the early 20th century. The effects of such covenants, which were broadly implemented in cities all over the country, are at least partially responsible for the significant homeownership gap between white households and households of color. If you’re not able to join us to watch, the program is available online here.
- Politico recently published a major feature detailing the journey of Minneapolis 2040, the city’s latest comprehensive plan, from proposal through approval. The plan changed Minneapolis’ zoning laws to allow duplexes and triplexes to be built anywhere in the city. Previously, more than three-quarters of the city were exclusively zoned for single family homes.
- Minnesota Public Radio’s APM Research Lab recently documented Black homeownership rates in the Twin Cities as among the lowest in the U.S. The research cited the lingering effects of the Great Recession as a key cause, with many previously Black-owned homes lost during the crisis being transitioned to rental properties. The online feature includes interactive maps and data for cities across the country.