Housing Market Not So Great
The Minnesota housing market has seen a large decrease in home sales over the last few years with August being one of the worst months on record since 1994 according to the Star Tribune.
This may be to housing sales being down and home foreclosurs increasing, which are at near record highs through out Minnesota, according to Minnesota News organization WCCO. The main culprit of high foreclosures in our state appears to be homeowner's that are unable to pay thier high interest mortgages due to predatory lending practices used by some mortgage companies through out the state. According to Minnesota Public radio, laws are being made to help protect home buyers in the future.