Posted by Typically, when interest rates go down, home prices increase. But, here in Minnesota, the value of my home on Zillow.com has dropped by $20,000 in the last 3 months. I can only attribute this to Trump’s immigration enforcement actions in the state. With all of the bad publicity lately, no one wants to buy a home in Minnesota. My neighborhood rarely has any homes listed for sale. It is a quiet middle-class neighborhood with an equal mix of young families and seniors (me included). In recent years I’ve noticed a few Asian families have moved into the area. One, who lives next door, has had a few large gatherings at their home. I’m always surprised by the expensive new cars their guests drive. Makes me wonder what they do for a living.
Seeing a $20K drop in the value of your home is never welcome. But, when that happens, I usually see an increase in the value of my retirement account. In the past 3 months, the increase has been equal to the decline in my home’s value. So, my net worth remains the same. I don’t like to include my home value, because you have to live somewhere. I calculated that even if I paid off my mortgage, it would still cost $800 per month to live in a home that I own. That’s because you still have to pay taxes, insurance, and utilities. Speaking of utilities, I have noticed that my water usage has gone from 2000 gallons per month to 5000 gallons. I don’t know of any new usage that would call for an additional 3000 gallons. Someone has been taking too many baths!
After a second person was killed in Minnesota, we are finally hearing about a possible reduction in the number ICE agents in the state. It would have been a lot worse if they had shot two people of color. We don’t need another 3-day riot, the second-most destructive period of local unrest in U.S. history. Hopefully, things will settle down, and people in Minnesota won’t have to worry about being stopped and asked for proof of citizenship. The mid-term election will be interesting. Assuming that Trump doesn’t find a way to cancel it.