Not enough older homes on the market, and *new* homes cost too much for young workers — those are among causes of a work force shortage in rural Minnesota, says the Saint-Peter-based Center for Rural Policy and Development. Researcher Kelly Asche says one of the reasons there aren’t enough “For Sale” signs on older homes is, not enough assisted living facilities and nursing homes. He says there’s “lack of development of those types of homes for older folks or older households to move into, so they end up staying in their homes a lot longer.
Asche says new homes aren’t being built for young workers because they’re too expensive and cost exceeds market value in rural areas. “Incoming work force can’t afford to buy those 200-thousand-dollar kind of modest homes,” he says. So what about apartments? Researchers say low rents in rural areas make it challenging to attract investors and developers.
Asche says researchers don’t yet have recommendations on how to get around the conundrum, but are working on them.
More in this interview: