Yesterday in the Star Tribune an article written by David Peterson appeared, examining the issue of how the core cities of the Twin Cities are growing, unlike a few years ago when the burbs were bursting with new homes.
I have been saying this for a long time to my clients looking to buy a new home, buy in the city, not far away from the core. People are going to start to move closer to the core of the city and not to the far away suburbs. The McMansions are in trouble.
One of the major reasons for this is GAS PRICES!!! People are not going to be able to keep up an 80 mile commute when gas is $4 bucks a gallon.
Not only that, but energy prices are playing a part in the move also. Homes in the burbs are usually bigger, which means they cost a lot more heat and take care of then a smaller house in the city.
At the end of the day people will always live near and around the core of the Twin Cities. There are so many nice places to live in the area, unlike Detroit, that people will continue to move in to the city.
I suggest that people look at foreclosed homes in the range of 180-250k range and gobble up cheap foreclosed condos!! The thing about condos is that when people leave them, only so much can happen to them, unlike a single family home, where there is no association to protect against some of the damage.
http://www.startribune.com/local/24283434.html?page=3&c=y
I have been saying this for a long time to my clients looking to buy a new home, buy in the city, not far away from the core. People are going to start to move closer to the core of the city and not to the far away suburbs. The McMansions are in trouble.
One of the major reasons for this is GAS PRICES!!! People are not going to be able to keep up an 80 mile commute when gas is $4 bucks a gallon.
Not only that, but energy prices are playing a part in the move also. Homes in the burbs are usually bigger, which means they cost a lot more heat and take care of then a smaller house in the city.
At the end of the day people will always live near and around the core of the Twin Cities. There are so many nice places to live in the area, unlike Detroit, that people will continue to move in to the city.
I suggest that people look at foreclosed homes in the range of 180-250k range and gobble up cheap foreclosed condos!! The thing about condos is that when people leave them, only so much can happen to them, unlike a single family home, where there is no association to protect against some of the damage.
As always if would like to get property listings or wondering what your financing options are, contact The Satori Group and we will do our best to make it happen.