McDonald’s, iTunes — and Real Estate Signs In economics, the term “inferior goods” means anything that you consume more of as you have less money. Historically, foods like hamburger (vs. steak), potato’s, rice and the like qualified; today, that would be fast-food chains like McDonald’s, and all the Dollar store chains that appear to be...Read More
Great Value Overlooking Lake Edina Where: 4904 Poppy Lane in Edina What: 4 BR/3BA walkout rambler with 4,200 FSF and pool overlooking Lake Edina How (much): $699k Who: listed by Steve Stewart; broker is Edina Realty Historically, homes in Edina enjoyed some of the best appreciation in the Twin Cities — and weathered economic downturns...Read More
Realtors & Buyer’s Markets: Feeling Sellers’ Pain It was the best of times, it was the worst of times.–Charles Dickens In a Buyer’s market, Sellers’ pain is Buyers’ gain. And the vast majority of Buyers today are represented by Realtors, too (acting as a Buyer’s Representative). So it seems fair to ask: Why isn’t a...Read More
Starbucks vs. Burger Jones One restaurant doesn’t exactly make a trend, but the new burger joint new Lake Calhoun — aptly named “Burger Jones” — appears to be embracing an anti-Starbucks marketing strategy. So, forget Starbucks’ “Tall,” “Venti,” and “Grande” for “Small,” “Medium,” and “Large” (or, is it the other way around?). If you order...Read More
“Safe” Mortgage Pain Spreads to MN In the latest phase of the nation’s real estate disaster, the locus of trouble has shifted from subprime loans ” those extended to home buyers with troubled credit ” to the far more numerous prime loans issued to those with decent financial histories . . . Economists refer to...Read More
Recession Casualty . . . or Something Else? I made the rare foray into downtown Minneapolis for some retail shopping the other day, and what I found reminded me of an old skit from The Chris Rock Show. An African-American man is shown trying, unsuccessfully, to hail a cab. Naked. As each cab passes him...Read More
