Minnie...housing bubble??

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anonomoose

New member
Minneapolis housing market and prices were down 17.7% year over....amoung the worste in the nation.

Fargo, ND, one of the best in the nation...go figure!
 
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xcr440

Well-known member
One positive sign is the rental market in the Twin Cities, both Minneapolis and St. Paul are BELOW 1% vacancy rates. Things will turn around in the housing market if rentals are FULL.
 
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whitedust

Well-known member
All about jobs & available housing in a given area. Nationally real estate about to take another hit more lost jobs & foreclosures bound to happen hand & hand with sinking stock market. It's going to get ugly next 4-6 months so look for the bottom then buy stocks to increase wealth cause your house is worth 30% to 50% less depending on when you bought it & what you did to it.
 
skiroule

skiroule

Well-known member
anonomoose said:
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Fargo, ND, one of the best in the nation...go figure!
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This doesn't really surprise me.

In spite of the fact that one company (I can't remember the name) sent their employees on an expense paid vacation to Fargo as punishment for not making their sales goals, Fargo has a lot going for it - stable farm economy, NDSU, major medical facilities, and Scheels. Have to love Scheels Sporting Goods.

Don't know that I would want to live there but we go to the Blues Fest there every year and it's a great place to visit (at least in the summer).
 
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bearrassler

bearrassler

Well-known member
North Dakota does have a booming oil industry but Fargo is not part of it. Eastern North Dakota's economy is tied to farming among other things. Our home prices never went down and our unemployment peaked at under 5% during the downturn and is now under 4%. On the flip side our housing prices never soared like other parts of the country in the early 2000's, just a slow and steady climb in prices.
 
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G

Guest
The Red River Valley of the North is one of the few areas in the nation that isn't in the toilet. Some of the best farmland in the world and high commodity prices have us in a mini boom. Even in crappy wet years like we are having this year it is common to harvest more bushels per acre than Kansas or SD or Nebraska or just about anywhere. 150 miles north of Fargo on ther MN side there is currently a 168 million dollar canola crushing/processing facility going up. I can see it from my house. It is the largest project of its kind being built in MN at this time. Best of all it is private and not a govt venture. When completed in 2012 it will produce food grade canola oil. It will use canola produced in southern Canada as well as eastern ND and nw MN. It will also produce about 50 decent paying jobs. This is a huge deal for our little community. Kind of off topic but things don't suck everywhere.
 
skiroule

skiroule

Well-known member
Still haven't figured out why my ancestors didn't go another 100 miles West-Northwest instead of trying to farm muskeg.

Grub & BR's posts are dead on. North Dakota has always enjoyed one of the lowest unemployment rates in the nation and this is certainly the case on both sides of the Red . This translates into a solid housing market.

Since farming is a such a big player in the economy, a housing boom to inflate prices is unlikely and this has been proven out over time. This is not to say there isn't growth due to other industries, including high tech companies. I think Microsoft bought Great Plains Software a few years ago so they must have seen something they liked.

I doubt if it's a factor but I don't believe there is a speed limit on the trails in N.D.
 
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G

Guest
I believe the sled speed limit in ND is 'safe and prudent' except if you are running alongside a road. Then it is the same speed limit as that particular road. Since there are only about 5 roads in ND this is no big deal. Just kidding. Bearassler might agree - there are some really good trail systems hiding in ND. Yes, there are some windblown ditches also but I ride a lot along the US / Canadian Border. Not much traffic, good people and a good variety of trails that most folks wouldn't expect to find in such a place. Plus there is snow here early and late most years.
 
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anonomoose

New member
sledboy1982 said:
nd is flat and boring. dont come here
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Okay....see that...he's hid'n sumthin.....

If someone would build some high moutains over there, that would put character into the sled'n....I bet dat Fargo would grow...exponentially.

(I know sledboy....your hid'n some pretty nice pheasant huntin....you ain't fool'n me a bit!)
 
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dcsnomo

Moderator
Do you know what's the best thing to come out of Fargo?

ME!

At the ripe old age of 6 months my first words were "Can we move?" :) , so we did!
 
skiroule

skiroule

Well-known member
dcsnomo said:
Do you know what's the best thing to come out of Fargo?

ME!

At the ripe old age of 6 months my first words were "Can we move?" :) , so we did!
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You can run but you can't hide. Your place of birth will always be listed as Fargo, N.D., U.S.A.

Sorry DC, but you're a NODAK native.
 
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dcsnomo

Moderator
skiroule said:
You can run but you can't hide. Your place of birth will always be listed as Fargo, N.D., U.S.A.

Sorry DC, but you're a NODAK native.
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One time back in the mid 80's we were living in Philadelphia. Out to dinner with a group of NE type yuppies, and one guy whom I had just met said " I'll bet anyone here $10 that I was born in a state that is a very unusual state to be from, and I am the only person you know from that state.

I took the bet, and he said he was from Rhode Island. I looked at him and said "Well, you're right. That is an unusual state to be from, and you are the only person I know from Rhode Island. But, I win the bet."

"Where are you from?", he asked. I said proudly "North Dakota!"

The look on his face was priceless as he handed me the $10, 'cause I think it was the only time he lost that bet!
 
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anonomoose

New member
dcsnomo said:
One time back in the mid 80's ...The look on his face was priceless as he handed me the $10, 'cause I think it was the only time he lost that bet!
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So you actually took an Aquidnecker's money? No good self respect'n Dakotan would have done that....unless it was to cut down on his bragg'n a bit.

Dah shame of it all.....!!!
 
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arcticgeorge

New member
"Our home prices never went down"...??? ....Washington DC has held up the best as far as home prices and even their home values have dropped 26% since 2006 Some place like Oakland California nearly 50% (Source Kiplinger web)
 
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