The Case of the Missing Housing Inventory . . . Solved!?!

Structural, Not Psychological Explanation The years-long shortage of housing inventory has been a head-scratcher for many real estate experts (including this one). According to Econ 101, rising prices eventually elicit more supply, which cools off prices, which in turn reestablishes market equilibrium. Except that hasn’t happened the last few years. If anything, the shortage of...
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MLS Agent Remarks: “Owner Occupant and Investor Offers are Welcome Immediately”

“That About Covers It” Department The line, “owner occupant and investor offers welcome” sounds plausible enough. Then I stopped to think:  is there another kind of Buyer?? Short answer:  not that I’m aware of. I suppose “2nd home” or “vacation home” Buyer, if the property had been a lake cabin. But in this case the...
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Downtown Minneapolis Loft “Multiple Choice”

Your client is interested in a Downtown Minneapolis loft (or condo); as their Realtor, what do you do first? A. Show them the unit, to see if they like it; B. Review the Association doc’s, to look for pet restrictions, prospective capital improvements, etc.; C. Check out the MLS price history, to see how long...
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Broadway Investors: LIFO (“Last In, First Out”)

Lender Beware, or, Regular vs. “Premium”(?) Investors This week’s headlines announcing Spider-Man’s closing didn’t exactly come as a shock:  the exorbitantly expensive play was suffering from bloated costs and declining ticket sales. The surprise was who’s bearing the losses. Or perhaps more to the point, who isn’t: The show’s lead producers, Michael Cohl and Jeremiah J. Harris, acknowledged...
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Housing Market “Meterorites”

How Many Make a “Meteor Shower?” What’s a “housing market meteorite?” Like the celestial kind, they burst onto the scene in a brilliant flash of light; descend (in price) through the night sky (housing market) quickly; then just as quickly disappear (they’re sold). They often have these three additional attributes: One.  They’re top-to-bottom (bottom-to-top?) rehab’s;...
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Cuba’s Housing Market

Investors (and non-Cubans) Not Wanted When Cuba legalizes buying and selling homes by end of the year — as the government promised again this week — [observers] expect a cascade of changes:   higher prices, mass relocation, property taxes and a flood of money from Cubans in the United States and around the world. –Damien Cave, “Cubans...
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