The Federal Reserve Bank of Minneapolis has noticed an alarming spike in investor-owned homes in Minneapolis since the Great Recession.
The Federal Reserve Bank of Minneapolis has started monitoring a disturbing trend, writes Joy Wiltermuth: "an explosion of investor-owned homes" in high-poverty neighborhoods. According to a Minneapolis Fed report, the rate of investor-owned homes rose sharply after the Great Recession, with a growing number of 'very large' investors—those who own 50 or more properties—snapping up foreclosed homes. The trend accelerated during the COVID-19 pandemic as some homeowners were forced to sell or fell into foreclosure.
"One concern is that deep-pocketed investors 'make it harder for families, particularly lower-income households who are more likely to be people of color, to compete in the home-buying process,' according to the report." In Northeast Minneapolis, where the poverty rate is 41.7 percent, investors own close to a third of residential properties. The report also cites concerns that increased ownership by absentee investors who provide little maintenance will lead to the deterioration of housing stock and poor conditions for tenants.
Zoning Reform Is Working in Minneapolis
The city has grown its housing stock and limited rent cost increase to just 1 percent.
Quantifying the Impact of Pandemic Housing Assistance
The massive federal injection of funding into housing programs has had major impacts on many Americans’ ability to stay housed and out of debt, but fears loom as the end of some funding sources nears.
Twin Cities Parking Reform Shows Promising Results
Minneapolis and St. Paul both eliminated parking minimums, paving the way for less parking and more housing.
Americans May Be Stuck — But Why?
Americans are moving a lot less than they once did, and that is a problem. While Yoni Applebaum, in his highly-publicized article Stuck, gets the reasons badly wrong, it's still important to ask: why are we moving so much less than before?
Using Old Oil and Gas Wells for Green Energy Storage
Penn State researchers have found that repurposing abandoned oil and gas wells for geothermal-assisted compressed-air energy storage can boost efficiency, reduce environmental risks, and support clean energy and job transitions.
Placekeeping: Setting a New Precedent for City Planners
How a preservation-based approach to redevelopment and urban design can prevent displacement and honor legacy communities.
San Diego Swaps Parking Lane for Kid-Friendly Mini Park
The block-long greenway will feature interactive play equipment and landscaping.
Tracking the Invisible: Methane Leaks From LA’s Neighborhood Oil Sites
Environmental advocates are using infrared technology to monitor and document methane leaks from neighborhood oil sites, filling regulatory gaps and pushing for stronger protections to safeguard community health and the climate.
Montana Bill Promotes Parking Reform
A bill before the Montana state senate would bar cities from requiring more than one parking spot per new housing unit.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
Heyer Gruel & Associates PA
Institute for Housing and Urban Development Studies (IHS)
City of Grandview
Harvard GSD Executive Education
Salt Lake City
NYU Wagner Graduate School of Public Service
City of Cambridge, Maryland