Hundreds of lots are empty amid frenzy of demand for homes in Minneapolis

In Minneapolis, demand for housing has never been more intense. Agents are begging people to put homes up for sale. The teardown-and-rebuild phenomenon is spreading from the wealthy southwest corner east to the Mississippi River and toward downtown.

But on the city’s North Side, there are hundreds of empty lots — some for as little as $1,700 — with few takers.

It’s a situation, years in the making, that drags down the wealth and economic potential of homeowners in the area, distorts property value elsewhere in the city and is an obstacle to reversing population loss.

http://www.startribune.com/stuck-in-a-corner-hundreds-of-lots-are-empty-amid-frenzy-of-demand-for-homes-in-minneapolis/366258071/