‘Underwater’ home mortgages drop to 10% in Minnesota

This is good … or at least better. Annie Baxter of MPR reports: “The share of Minnesotans who owe more on their mortgages than their homes are worth is declining. At the end of 2013, about 10 percent of mortgaged properties were ‘underwater,’ down from about 16 percent a year earlier, the research firm CoreLogic said Thursday. … As home prices rise and homeowners gain more equity in their properties, their risk of foreclosure drops. The improving home equity picture could prompt more Minnesotans to list their homes for sale, said Herb Tousley, director of real estate programs at the University of St. Thomas.”

The easiest vote they’ll cast all year … Tom Scheck’s MPR story says: “The Minnesota House overwhelmingly passed a tax bill Thursday that cuts $503 million in taxes for businesses and realigns state tax policy so that it more closely conforms with federal tax law. The 126-2 vote came on the same day Gov. Mark Dayton proposed an even more robust tax cut plan in his supplemental budget. Both the governor and House leaders say the proposal needs to move quickly, but Senate leaders are indicating they want more time.”

There’s a low probability of flooding … at this moment. Bill McAuliffe of the Strib says: “Despite a winter-long buildup of snow, particularly in eastern Minnesota, chances of serious spring river flooding across the region are slight, according to a Thursday update by the North Central River Forecast Center. Probabilities of flooding that would close roads or bridges or have other widespread public impact are less than 25 percent at cities along the Minnesota and Mississippi rivers and throughout southeastern Minnesota and western Wisconsin.”

The deal, with final numbers, is done for the Saints stadium. Kevin Duchschere of the Strib writes: “St. Paul and Ryan Cos. have signed off on a $43.8 million contract to finally construct the St. Paul Saints’ downtown ballpark, with Ryan responsible for any cost overruns involving labor or materials. The agreement between the city and the builder was the final hurdle to be crossed before ground is broken this spring at the Lowertown site, where demolition is wrapping up on the former Gillette/Diamond Products factory.”

Looking at Gov. Dayton’s tax cut proposals, Stribber Neal St. Anthony says:Nearly half of the tax cuts Gov. Mark Dayton proposed Thursday are for businesses and their owners, a move that may reduce the anti-business criticism that has dogged him. Dayton proposed — and the House almost immediately passed — eliminating three business-sales taxes that accounted for $232 million in his overall $616 million in tax cuts.”

The GleanYou never want to see the word “degraded” in the context of a nuclear plant. The AP reports: “The Nuclear Regulatory Commission has issued its annual report cards on the nation’s 100 commercial nuclear power plants, and it found room for improvement at two reactors in Minnesota and one in Wisconsin. Xcel Energy’s Prairie Island Unit 2 on the Mississippi River near Red Wing … was assessed as needing to resolve one or more items of ‘low safety significance.’ … The NRC says Xcel’s Monticello nuclear plant on the Mississippi in central Minnesota and the NextEra Energy Resources Point Beach plant on Lake Michigan near Manitowoc, Wis., were rated one category lower with a ‘degraded level of performance.’ “

“The largest ever” … Mara Gottfried of the PiPress says: “The city of St. Paul is poised to pay $1 million to the families of two children killed and one who was injured in a landslide in Lilydale Regional Park in May. The city council is expected to vote Wednesday on the settlement, the largest ever paid by the city, according to an agenda released Thursday. Before the agreement was reached, an attorney for the families had filed notice they intended to sue the city.”

Iron Range blogger Aaron Brown tells us: “Today my friends Linda Stroback and Bob Hocking announced that they would be closing Zimmy’s Restaurant tonight until further notice. A year of tough economic conditions in downtown Hibbing and back taxes is forcing the closure, with the hope of the restaurant restructuring and reopening … in Zimmy’s, we’ve lost another arts venue and the only serious celebration of the most famous and influential musician to ever come from the Iron Range. Dylan Days 2014 is still on, but we’re in a world of hurt figuring out if Zimmy’s will be back up and running by then.”

It’s the end of civilization as we know it … . Aaron Rupar at City Pages tells us: “Target Corp. employees can now wear jeans — to work! That’s because at the start of this week the company instituted a new ‘Dress for Your Day’ policy that gives corporate workers the option to dress more casually (when appropriate). ‘It’s about giving team members choice and options for taking a look at their own day ahead of them and to determine what they should be wearing, whether that’s jeans and a sweater, a blazer, or maybe a suit,’ company spokesperson [Molly Snyder] told us.” And what is appropriate attire for Target’s “guests”?

You can also learn about all our free newsletter options.

No comments yet

Leave a Reply