General

Rising homeowners insurance costs make owning a home more expensive. For condo owners home owner association dues are way up because of increased insurnace costs.

For the typical homeowner with a mortgage homeowner’s insurance is required and is added to the monthly mortgage payments. Homeowner’s should expect increases in monthly mortgage payments due to higher insurance costs and of course property tax increases.

Rising homeowners’ insurance premiums are driven by increased claims costs from more frequent and intense natural disasters like wind and hailstorms, exacerbated by higher construction material and labor costs due to inflation and supply chain issues. These factors place financial strain on insurers, leading to higher premiums and even non-renewal of policies, particularly in high-risk areas. For Minnesotans, the situation is projected to worsen with a potential 15% increase in premiums in 2025 due to these weather-related trends and associated repair costs.

Yes, it is already that time of year for back-to-school sales. The sales are earlier each year. We used to have to wait until August.

This year, especially with tariffs (a huge tax on the American people inflicted by Don the con) prices are likely to be higher rather than lower, but who knows.

This is a great time of year to buy office supplies and equipment for the home office.

Yesterday I bought a new desk chair for my office. I don’t need much this year but if I did I would be buying now.

It is time to take advantage of back-to-school savings.

Last week, I received a postcard from a real estate company claiming to be number #1. There is an ad in a local newspaper for one office of a real estate company that claims to be number #1.

I think it is fair to make such a claim. They could be number 1 in number one in having the most recovering alcoholics in their office, or maybe their agents have the most pets or grandchildren.

The claim is vague; no specifics are provided.  Real estate companies that have more real estate agents usually have more sales.

Home buyers are usually attracted to a house rather than a real estate company. They won’t buy a house because the sign in front is from a number 1 real estate company.

Real estate companies do not sell houses. Real estate agents sell houses, and most agents are independent contractors. Choose the right agent and that agent will take care of the rest. If an agent claims to be number #1, ask for specifics. I like to ask for proof.

The good news is if you are looking for a real estate agent, there are many, perhaps hundreds to choose from.

I publish this annually using data from the State of Minnesota. The unemployment rate in Minnesota is generally lower than the national average. Unemployment rates are the lowest in the Twin Cities Metro area.

The employment picture will change this year due to federal job cuts and tariffs. Jobs in health care are sure to remain strong.

Small businesses, cumulatively, are the largest source of jobs in Minnesota. We sometimes forget that small businesses are the backbone of our economy. If you need work and don’t want to work in health care, retail, or the government, consider starting your own business.