Friday a.m. update: Why middle-income rent is going up
Good morning and welcome to the weekend. Here’s what you need to know to start it.
A foggy, cloudy morning before snow and freezing drizzle. In the Twin Cities, highs in the lower 30s during the day and lows in the mid-20s with 5 to 10 mph winds at night. Statewide, up to an inch of snow possible with highs between the mid-20s and lower 30s. Nighttime lows 18 to 24. More on Updraft. | Forecast
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Researchers have a hunch for why middle-income people are seeing higher rent. More high-income folks are renting, which, according to a new Harvard study, can make for lower vacancy rates and higher housing costs. The report’s main takeaway: Minnesota has seen a significant increase of middle-income people who pay more than 30 percent of their income for rent. As Marty Moylan reports, that’s a quarter of Twin Cities households making between $45,000 and $75,000.
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There’s a catch to Xcel Energy’s transition away from coal. The utility plans to replace a coal plant with a natural gas plant, which is drawing criticism from environmentalists. In addition to climate change concerns, Kirsti Marohn reports that consumer advocates worry the natural gas plants could become a financial liability in the future.
Amy Klobuchar is ready to make her final pitch to Iowans. Before the state has its first-in-the-nation caucuses on Monday, the Minnesota senator has a major campaign blitz planned over the weekend. As Mark Zdechlik reports, Klobuchar’s events are getting bigger and some voters, both undecided and previously committed, are moving to Team Klobo.
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