I listened in on a rent stabilization presentation today (another name for rent control) as it is an issue that is being brought before Minneapolis voters this fall. The Center for Urban and Regional Affairs did a nice presentation covering the issues.
Minneapolis’ population has gone from 382K in 2010 to an estimated 430K today, for an increase approaching 48,000 residents. Given all the gloom and doom around the decline of center cities back twenty years ago, this should be reason enough to celebrate. This growth was also achieved without substantial rent increases.
But the most optimistic data came from this slide.
Look at the income increases amongst the BIPOC population. Doesn’t it look like an increase of in excess of 25% between 2017 and 2019? Nice. Though as fantastic as that is, there is more work to do to bring those numbers even further along (and celebrate along the way).
I say–more of that please.