Back from North Dakota One of the biggest constraints on new construction the last several years has been a shortage of skilled labor. Thanks to the fracking boom, thousands of workers once employed in home construction decamped for greener (blacker?) pastures elsewhere. With the now-accelerating bust in energy prices, that exodus might now reasonably be...Read More
“If at First You Don’t Succeed . . . “ Maybe they’ll try again. That’s my reaction to the news that North Dakota voters overwhelmingly rejected a constitutional amendment yesterday that would have eliminated that state’s property tax. To be fair, energy-rich (and financially flush) North Dakota is in a better position than most states...Read More
“Go Northwest, Young Man” I’ve written recently how, 500 miles to the southeast, the Twin Cities labor market and economy generally are starting to feel ripples from North Dakota’s booming oil fields. See, $16 an Hour at McDonald’s; “Hanging Sheet Rock for $90k a Year.” When the conference organizers get in on the act (see above)...Read More
Just One Catch It turns out that sheetrockers aren’t the only ones who can make good money these days in North Dakota. See, “North Dakota Boom, Twin Cities Ripples?” Someone who came through one of my open houses yesterday with North Dakota ties said that the local McDonald’s are paying $16(!) an hour. The catch?...Read More
MN’s Next-Door Neighbor: ‘The Saudi Arabia of Wind’ What made New England the center of the Industrial Revolution — and specifically, the textile industry — more than 150 years ago? Two things: technology, and cheap energy (specifically, hydroelectric power from the area’s many rivers). A century ago, what made the Twin Cities the nation’s milling...Read More
