EXCERPT: “Operating costs are creating challenges for apartment owners and developers in Greater Minnesota, where housing needs are especially acute, according to a report by the Federal Reserve Bank of Minneapolis. Insurance costs, interest rates and staffing shortages were identified as three roadblocks for rental housing owners and operators in the region, according to the report, which was compiled through conversations with property owners and managers. The Federal Reserve Bank last summer interviewed 18 organizations with connections to the multifamily housing business. It found that one of the biggest differences between Greater Minnesota counties and more metropolitan areas was in rent increases, said Ben Horowitz, an author of the report and senior policy analyst at the Federal Reserve Bank of Minneapolis.” FULL STORY: https://fluence-media.co/3VkP7eC
