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4,- Affordable houses hard to find
<br /> Study finds Housing market geared for higher-valued homes
<br /> shortage of
<br /> homes under 20 -- w :,�
<br /> $150,000 : r< , _. :.Y ..to i
<br /> a
<br /> ,' ;nj ^' ,.: �. :`"`tom,.
<br /> (Editor's note:This is the first Ky,
<br /> in a series of stories on issues 15 - t ` ' ' ,s. p ,' ,:,,,,,v
<br /> 'v
<br /> concerning housing in Elk �,�, ',,'
<br /> River.) rri `; 00 ;if
<br /> by Nicole Jacob :--rtn•
<br /> Staff writer _ Homes like this selling for ..w.
<br /> Is there a housing crisis in 1 0 :'`c;,'
<br /> Elk River? It's a question $249,000 are easy to find.
<br /> But getting something for y
<br /> that hadn't seriously been under $150,000 is another ` j
<br /> asked in Elk River until story
<br /> recently, when the Central ',;:,,...,;..
<br /> Minnesota Housing --
<br /> Partnership (CMHP) con- 'a+'':41-. 't;='.ii77, „`' 44';
<br /> ducted a housing study for , ,; i::' ; - • al{•4}' ,,,.
<br /> the city. Their findings may '•,' kr.A "` f, ,: ! ;
<br /> .,
<br /> surprise you. ' -• � ':" '' �:� ^`- "c`��
<br /> The Elk River area has a 0 '`''•'d '' ',, .. "'4 ,..7', i
<br /> "pretty serious problem" $lOQ000 ,?,$100,001 $150,001 $200,001 $250,001 $300,001
<br /> and under to$1550,000 to$,2©0,000 to$250,000" to$300,000 and over
<br /> with affordable housing,Lisa
<br /> Graphenteen of CMHP con-
<br /> cluded after reviewing the A study done by the Central Minnesota affordable housing." The chart shows a rep-
<br /> iresults of the study. Housing Partnership found the Elk River resentative snapshot of Elk River home list-
<br /> The study indicates that area has a "pretty serious problem with ings in the year 2000.
<br /> there is a general lack of
<br /> home-buying opportunities than $30,000—the CMHP
<br /> in Elk River for households 'It's hard. Especially for first-time study showed. In 2000, the
<br /> making less than $50,000. average selling price was
<br /> Just ask Jason and Amber home buyers.The supply is nowhere $174,820.
<br /> Schubert, a young 20-some- near the demand: After seeing numbers like
<br /> thing couple, who have been these, some long-time Elk
<br /> looking to buy a home in Elk —Brian O'Donnell River residents are realizing
<br /> River for two years with no that they would not be able
<br /> luck. The Schuberts and real estate agent to afford their homes if they
<br /> their two children, both hadn't bought their property
<br /> under the age of 2,have been several years ago.
<br /> living in a one-bedroom have a household income of $150,000. The study showed Planning Commissioner
<br /> apartment in the Evans about $50,000. They've been that of 54 homes in the Tom Mesich, who is being
<br /> Meadows complex. married for four years, and Multiple Listing Service, forced to move from his hnmP
<br /> "It's kind of frustrating," Amber sa
<br /> said Amber, "but helpless- good.
<br /> ness is the biggest feeling. Yet '
<br /> It's so out of your hands. su'"
<br /> There's absolutely nothing
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