It seems to this observer that local leadership in the Williston area, central to North Dakota’s oil patch, has a bias against certain types of businesses. Specifically mobile, temporary businesses. Last week I wrote about Williams County cracking down on so-called “man camps” which are dormitories run by private businesses giving oil workers somewhere to…
North Dakota Has Highest Risk Of Home Price Declines In The Nation
This probably isn’t as bad as it sounds: North Dakota and Texas have the highest risk that home prices will decline among all states, because of their reliance on the oil industry, according to Arch Mortgage Insurance. North Dakota has a risk of home price decline of 38%, followed by Texas at 32%, according to…
Silver Lining In Oil Boom's End: Rents Are Falling Back Down To Earth
Back in December I wrote a post headlined, “The End Of North Dakota’s Oil Boom Is Here.” It generated a lot of feedback from people who felt I was now forecasting a bust for North Dakota oil production. But that wasn’t quite right. My point wasn’t that a bust is upon us. Only that the…
Local Officials In Williston Are About To Make The Housing Shortage A Lot Worse
There’s no question that housing shortages are a big issue in North Dakota. Booming population growth, uncertain capital, and a weather-constrained construction season have created a situation where demand for a place to live is seriously outstripping supply. Thus the (somewhat exaggerated) national stories about apartments in the state’s oil patch costing as much as…
Chart: North Dakota Building Permits Set A New Record, Beating Previous High By 57%
A housing shortage in North Dakota has pushed rents in some parts of the state so high that they’ve made national headlines. But the state is quickly catching up. Via Mark Perry, check out the chart above from the St. Louis Fed showing issued building permits for privately-owned single family homes. You can see the…
Williston City Leaders Should Blame Themselves For High Rents
“City looking for answers” That’s the headline from the Williston Herald over an article documenting protests over high rents and local city leaders asking the state for solutions, including asking for an opinion from Attorney General Wayne Stenehjem on whether or not rent control policies would be legal. Yes, rent control. The rent control push…
David Flynn: There Is No Easy Way To Slay The "Housing Hydra"
Housing is a common topic of discussion in Grand Forks. Many questions surround the topic, too many in fact. As a frequent contributor to the Jarrod Thomas program (1310 AM Grand Forks), I receive a fair share of these questions. For every question I answer, or attempt to answer, it seems like two take its…
Is The Bakken Housing Boom A Bubble, Or A Good Long-Term Investment?
For a while now I’ve been wondering if we have a housing bubble in North Dakota. I definitely think we’ve got a bubble of hotel rooms. In Minot, and points further west into the Bakken boom area, there are hundreds of new hotel rooms, but occupancy rates are beginning to fall and where just a…
Study: Federal Regulations Have Made America 72% Poorer
Government up to a certain point can be a boon to an economy. Laws that protect our rights, and provide a legal process for settling disputes, allow for a stable environment in which commerce can flourish. Beyond a certain point, government is a burden. And a new study from economists John Dawson at Appalachian State…
City Official: New Protections For Homosexuals Will Make Little Difference
Despite the attention the issue gets, there’s little actual data to suggest that there’s any real problem with housing or employment discrimination against homosexuals. On the issue of housing discrimination specifically, I spoke with then-Labor Commissioner Tony Weiler back in April who told me that complaints over discrimination against homosexuals were not only minimal in…