Homebuilders bullish as cost of renting rises, home prices stay low

Rents in Minneapolis have increased nearly 10 percent in a year, with home prices down nearly seven percent in that same time. Experts say that combination - plus an improving job market - sets the table for a surge of home purchases. Nationwide, housing starts are at their highest level in more than three years.
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Rents in Minneapolis have increased nearly 10 percent in a year, with home prices down nearly seven percent in that same time. Experts say that combination - plus an improving job market - sets the table for a surge of home purchases. Nationwide, housing starts are at their highest level in more than three years.

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A report from Standard & Poor's shows Twin Cities home prices fell 0.6 percent in November and were five percent lower than the year before. Searching for a positive spin? The decline here was only half as big as the national drop.

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