Posted on 05/12/2010 12:09:01 PM PDT by WOBBLY BOB
More tough news for Twin Cities metro homeowners surfaced this morning as home values in the Minneapolis-St. Paul metropolitan area slid 4.6 percent in March from a year ago. More troubling, the real estate website Zillow.com calculates that more than 268,000 Twin Cities area single-family homeowners with mortgages owe more than their homes are worth. That number is about 41.2 percent of the total. That compares with an estimated national average of 23.3 percent of single-family mortgages with negative equity, according to the report.
(Excerpt) Read more at minnpost.com ...
So just tax them some more to pay for baseball stadiums and NPR. That’ll fix it!
the actual count is 11,842 lakes (give or take a few man-made fishing holes)
“How many of these people took out HELOCs or refinanced and cashed out their equity”
Very good point. Periodically the network news will have some story about a typical American who is underwater on their house. Many of the people featured had taken out home equity loans...but its not their fault because nobody told them the risks.
A very beautiful state!
then we’ll all be drinkin free Bubbleup and eatin obama stew...
A very beautiful state!
Indeed. It’s like Michigan without Detroit, the UAW or Michael Moore.
Uff Da!! That’s gonna leave a ring at the new TCF hottub.. uhh field..
Nonsense. Maybe 40th on the list of beautiful states. No mountains. No oceans. A few forests up north surrounding muddy brown lakes teaming with predatory insects. Big deal. The southern half is completely featureless. Then there's the climate. Fine place to live, for reasons unrelated to beauty, but I wouldn't want to visit here.
Mosquito Heaven! I grew up smack dab in the middle of lake country..
Gimme winter and ice a foot thick, I’d be OK with that. You can have the bugs. 8-]
Hey now! Glacialogists love the state! Lots of stuff to study.. and shoot at.
Minnesota mosquitoes can’t be worse than those we suffer from Down East. Those monsters sharpen their beaks with hand axes before hunting for human flesh.
Sorry, but I’ve traveled through all 57 states, with the exception of Montana, Hawaii, and Vermont, and Minnesota is in the God’s aesthetic top ten, that I can see. And insects don’t affect me, since I grew up in the salt marshes of coastal North Carolina. Perhaps that’s why Minn. looks better to me?
“So just tax them some more to pay for baseball stadiums and NPR. That’ll fix it!”
Indeed! I’m having trouble believing this whole story is not a hoax! After all, Minnesota is a socialist paradise. This sort of thing can’t happen there.
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