Video: Mining for Housing in an Uneven Recovery
Affordable housing on the Iron Range is dependent on mining's ups and downs. While mining has been on a slight upswing since the Great Recession, the industry isn't employing the mass number of workers it did a generation ago, and the next set of layoffs are always a real threat. To hedge against uncertainty and possible layoffs, more people are opting to rent instead of buy, putting a crunch on affordable family-sized rental units. It's also created uncertainly for home prices, as the region tires to recovery from the foreclosure crisis.