Minnesotas homeownership rate has plummeted to seventy-one percent, marking a forty-year low, due to a severe housing shortage. The state is short nearly one hundred thousand homes, contributing to the highest median cost for single-family homes. First-time homebuyers like Molly McChesney face intense competition and limited options, often being outbid despite offering above the asking price. The demand for homes far outweighs the supply, driving up costs and pricing many people out of the market. Lawmakers have introduced a bipartisan package of bills to increase affordable housing, but the issue remains unresolved.
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