It's estimated that more than 2,500 16 to 21 year olds are homeless on any given night in Minnesota. But the number of beds reserved for that age group in the state's emergency shelters is fewer than 80. One pastor describes the situation as hideous.

Even though hundreds of new apartments have opened in the Twin Cities, places to rent are still getting more expensive and harder to find. Throughout the region, the average vacancy rate was 2.7 percent, and continues to tick downward. Rents are increasing.

Despite a drop in foreclosures in the Twin Cities last year, 2012 will not likely be the year that the housing crisis winds down. The Star Tribune reports that a moratorium on processing new foreclosures has ended, which will likely increase the number of local foreclosures processed in the coming year.

The former rectory of the Guardians Angels Catholic Church in Oakdale has officially become the first homeless shelter in Washington County. The manager of the facility -- which can house about six families a night -- is also meant to promote the awareness of homelessness.

The heat apparently has little to do with the increase in air conditioner thefts in the metro area this spring. WCCO-TV reports that AC units are being looted for the copper and aluminum components contained within. Since Jan. 1, more than 100 units have been reported stolen, with more than 15 looted in May alone.

Renting outside Minneapolis and St. Paul has largely been limited to housing built decades ago, but experts say the suburbs are ripe for a new wave of apartment development. It's a trend driven by a fundamental shift in attitudes toward renting plus a growing appetite housing with urban perks.

Peavey Plaza in downtown Minneapolis will be temporarily closed for cleaning and maintenance as the city attempts to manage a homeless population that calls Peavey home. The plaza has been the center of controversy as the city plans to tear it down and build a new one.