Posted at 8:36 AM on October 25, 2011
by Paul Tosto
Filed under: Housing and mortgages
We'll be reporting and looking for insight all day into mortgage and housing issues in Minnesota. Below is a look recent stories to get a handle on the scope of the problems. Also, be sure to check out Today's Question at MPR News Is home ownership an attractive option these days?
Distressed home sales push down price data The Star Tribune reports, "Prices on distressed sales in the Twin Cities have fallen three times more than prices on traditional deals in the past few years...underscoring the impact foreclosures and short sales have had on the local housing market.
Home prices up in half of major US cities Some good news this morning. The Associated Press reports the widely followed Case-Shiller Index shows home prices rose in half of major cities measured during August.
The Twin Cities market has two positive months of summer growth in housing prices but still has the worst one-year decline of any of the 20 metro areas followed with values down 8.5 percent from the same time in 2010.
Poverty jumps in the suburbs. Your suburban home value crashed in recession, you lost your job but the mortgage is still there. That's one reason poverty has surged in the suburbs. The New York Times reports on the jump in suburban poverty. In a graphic the paper shows Minneapolis among nine metro areas that shifted to majority suburban poor in the last decade.
Minnesota Today editor Michael Olson has pulled together a feed of housing and real estate stories from around Minnesota:
Any other stories or links on the mortgage mess we should care about? Post them below or contact us directly.