People are not 'fleeing' Minneapolis, real estate data shows (condos, mortgage)

[Cruz Azul Guy]

https://www.google.com/amp/s/bringme...ate-data-shows

This article doesn’t surprise me as I keep pretty close tabs on local real estate. Bottom line is that once you remove the speculation and a few anecdotes and look at the actual data, you see that there is no evidence as of yet of any kind of exodus from the city. The data shows that Minneapolis follows closely to the trends seen in other parts of the metro area where things are pretty hot and a definite sellers market.

I guess I’ll have to put my dreams of buying a heavily discounted mansion off of Lake Harriet on hold for now.

[Steamhammer]

Originally Posted by Cruz Azul Guy

https://www.google.com/amp/s/bringme...ate-data-shows

This article doesn’t surprise me as I keep pretty close tabs on local real estate. Bottom line is that once you remove the speculation and a few anecdotes and look at the actual data, you see that there is no evidence as of yet of any kind of exodus from the city. The data shows that Minneapolis follows closely to the trends seen in other parts of the metro area where things are pretty hot and a definite sellers market.

I guess I’ll have to put my dreams of buying a heavily discounted mansion off of Lake Harriet on hold for now.

Whatever makes you feel better. This will take a year or so to start showing raw numbers. Just hold tight, the dream-crusher is on its way. Slowly but surely.

[Glenfield]

I hope you are right. We are still undecided. We are looking at houses and got approved for a mortgage just in case. We had an assault and robbery on our block last week, the first incident of this type in the 20 years we’ve been here.

[Sono-Italiano]

Originally Posted by Cruz Azul Guy

https://www.google.com/amp/s/bringme...ate-data-shows

This article doesn’t surprise me as I keep pretty close tabs on local real estate. Bottom line is that once you remove the speculation and a few anecdotes and look at the actual data, you see that there is no evidence as of yet of any kind of exodus from the city. The data shows that Minneapolis follows closely to the trends seen in other parts of the metro area where things are pretty hot and a definite sellers market.

I guess I’ll have to put my dreams of buying a heavily discounted mansion off of Lake Harriet on hold for now.

Your most valid words here are "as of yet". Like Glenfield, I am not making a rash decision to sell and leave the city but I am thinking about what my options might be now, so that I can pull that trigger a year from now should I need to. The a******s that run Mpls. are not going to change their tunes despite the sanity imposed by the Charter Commission. They are simply going to double down because leftists are never interested in discussions. Simply in imposing what they know to be right and everyone else in their way are bugs to be stepped on.

[ben young]

Originally Posted by Glenfield

I hope you are right. We are still undecided. We are looking at houses and got approved for a mortgage just in case. We had an assault and robbery on our block last week, the first incident of this type in the 20 years we’ve been here.

That's just a small blip on the radar screen.-------------similar to a small blip coming over the Pole on the old NORAD radar screens .

[Cruz Azul Guy]

Originally Posted by Steamhammer

Whatever makes you feel better. This will take a year or so to start showing raw numbers. Just hold tight, the dream-crusher is on its way. Slowly but surely.

Whatever makes me feel better? My post was not based on emotion, just the hard numbers. I would argue that all this talk about mass exodus is an emotional response (typically coming from outsiders looking in) and not rooted in reality, and the actual real estate data supports this take.

[Glenfield]

Originally Posted by Cruz Azul Guy

Whatever makes me feel better? My post was not based on emotion, just the hard numbers. I would argue that all this talk about mass exodus is an emotional response (typically coming from outsiders looking in) and not rooted in reality, and the actual real estate data supports this take.

I don’t anticipate a mass exodus of residents but I think we’re still in the first inning of the game. I would be more worried about CRE and falling demand for high end condos downtown short term. It takes a while to get almost any older home ready for the market. As you know, something always needs fixing or an upgrade.

[Steamhammer]

Originally Posted by Cruz Azul Guy

Whatever makes me feel better? My post was not based on emotion, just the hard numbers. I would argue that all this talk about mass exodus is an emotional response (typically coming from outsiders looking in) and not rooted in reality, and the actual real estate data supports this take.

People on the inside tend to look for signs of improvement and turn their face away of reality. I would if I spent 500k on a home in the city. Nobody wants to think their investment was a mistake and will roll with the wheel until it spits you out. Minneapolis is going to go through wake up call as soon as businesses head to the burbs or out state. Also add telecommuting and you got a new recipe of a relationship between civilization and cities. If this trend holds , you can bet the farm things will change for the worst.

[Sono-Italiano]

Originally Posted by Steamhammer

People on the inside tend to look for signs of improvement and turn their face away of reality. I would if I spent 500k on a home in the city. Nobody wants to think their investment was a mistake and will roll with the wheel until it spits you out. Minneapolis is going to go through wake up call as soon as businesses head to the burbs or out state. Also add telecommuting and you got a new recipe of a relationship between civilization and cities. If this trend holds , you can bet the farm things will change for the worst.

One should read the interview that KSTP-TV conducted with Steve Cranmer of the Downtown Council. OVer 40 companies ranging in size between 100 and 600 employees have either told him of their intentions to leave downtown or have backed out of deals to move their business downtown. The left will pooh pooh all that because the left is smart and those who don't agree with the left are stupid. But since we're talking "data", there's some more to put in our pipes and smoke.

[Cruz Azul Guy]

Originally Posted by Sono-Italiano

One should read the interview that KSTP-TV conducted with Steve Cranmer of the Downtown Council. OVer 40 companies ranging in size between 100 and 600 employees have either told him of their intentions to leave downtown or have backed out of deals to move their business downtown. The left will pooh pooh all that because the left is smart and those who don't agree with the left are stupid. But since we're talking "data", there's some more to put in our pipes and smoke.

That was cited in the article I linked. Next time perhaps it would help to read the article linked from the original post before commenting on it?