Edina’s Steller Appreciation Performance Debunked [Ross Kaplan] Turns out, the fact the Edina was the only locale where real estate price-appreciated in 2008 was because one project, the Westin Galleria, pumped up the median price.
Twin Cities New Home Construction Lowest in Decade [Strib] Jim Buchta reports: “Twin Cities-area home builders were issued 127 permits in January to build 340 housing units in the 13-county metro area…Most of the planned units last month are rentals in two big suburban housing developments — probably apartments or senior housing — while only 126 of the planned units last month were for houses and townhouses.”
House Site in Edina Pushes Boundaries, Buttons [Strib] Why is it that there are like five stories a year about Edina homeowners up in arms about neighborhood development? Just put up gates and elect an architectural review board already.
An Animated Map of Target’s Growth [flowing data] Visualizes the explosive growth of target with a red “War Games” like nuclear detonation at each new location since 1962. Mesmerizing, though not real estate related. Would you like to play a game?
Not Local but Worth Reading
Will a Home Purchase Tax Credit Help Boost House Prices? Kash Mansori over at Econobrowser uses and graphs and data to back up something we just simply asserted – that home prices aren’t likely to be helped by any home purchase tax credit.
What to do About Fannie Mae and Freddie Mac? Susan Woodward and Robert Hall unpack a trillion dollar question – what should Fannie and Freddie look like once we get to the other side of this thing? Also contains an incredibly concise and well written history lesson on Fannie, Freddie, and Mortgage lending in the united states. Not as dry as it sounds. Read it.
Speaking of “Frannie,” They Need Another $200 Billion. Says Federal Housing Finance Secretary James Lockhart, via Bloomberg. Also, housing market lost 3.3 Trillion in value last year.