Just as historic shortages of properties for sale in the early days of the COVID-19 pandemic drove housing prices soaring, rental prices have risen too. And even though renters are feeling it hard in west central Minnesota, this is a growing nationwide issue. Below, we outline the market conditions that brought us to this point, and tips to help in your rental search
If you are in the market for any type of wood—from plywood or sheeting to standard 2x4s, be prepared for a massive sticker shock. U.S. lumber futures contracts for May 2021 delivery were priced at $1,645 per 1,000 board feet, about 60% higher than they were a month ago and 374% above the $347 contract price average in May 2020. This marks the fastest rise since the housing boom that followed World War II.
With a shortage of inventory of homes for sale in pretty much every U.S. market, the construction industry had risen. But with lumber prices soaring, starts are well below their previous highs.
See if Investing in Real Estate is Right for You There are many ways to invest in real estate, but one way which typically generates income is through purchasing rental property. Sometimes people buy rental property to fix up and quickly sell, or flip. Another option is to invest in a property for the long-term … Continued