Minneapolis saw lots of homes being bought up by foreign corporations. Homes sold on the first day so locals never really saw it.
https://www.npr.org/2024/02/17/1229867031/housing-shortage-zoning-reform-cities
To ramp up supply, cities are taking a fresh look at their zoning rules that spell out what can be built where and what can't. And many are finding that their old rules are too rigid, making it too hard and too expensive to build many new homes.
So these cities, as well as some states, are undertaking a process called zoning reform. They're crafting new rules that do things like allow multifamily homes in more neighborhoods, encourage more density near transit and streamline permitting processes for those trying to build.
One city has been at the forefront of these conversations: Minneapolis.
That's because Minneapolis was ahead of the pack as it made a series of changes to its zoning rules in recent years: allowing more density downtown and along transit corridors, getting rid of parking requirements, permitting construction of accessory dwelling units (ADUs), which are secondary dwellings on the same lot.