If no Amazon wasn’t enough, no snow, despite the coldest winter in NYC, caused us to head for the “Flyovers” that had more snow than ever. Landing smack dab in the middle of the country, forget snow, the Minneapolis Star Tribune was reporting the hottest real estate apartment market in the nation, with the city alone adding 5000 apartments last year but not enough to match jobs. Seven jobs were added for every new apartment. “Apartment construction in the Twin Cities was off the charts last year, but the vacancy rate was the lowest in the nation. By just about every measure, the rental market in the Twin Cities has consistently outperformed the nation, making it the darling of national investors who see potential for rent growth beyond what has already happened.” Adding to the heat, ‘Aging’ millennials are continuing to rent rather than buy. Yet property owners in another Flyover, Las Vegas, saw the highest rent increases in the nation. Take note NYC, Amazon is not the only one gettin’ out of town.
Flying High Flyovers
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