Maybe landlords buy Governor Kristi Noem’s persistent claim that her feckless governance has produced “the strongest economy in America“. According to Rent.com’s latest monthly rent report, South Dakota’s median rent jumped 8.01% in October, making the highest monthly increase in the country and the second-highest year-over-year increase. Update 2022.12.20: November’s stats show South Dakota median rent up 22.3% over 12 months, a big junp eclipsed only by rent hikes in Florida and New York:
Florida’s median rent has increased 23.2% since October 2021, but the median rent in Kristi’s favorite destination in October actually declined 1.2%.
Nationwide, median rent fell for the second straight month, down 0.97% in October after a September dip of 2.5%. In October, the national median rent was 7.8% higher that it was a year ago.
South Dakota does still offer cheaper rent than most places. Median rent in South Dakota in October was $1,130, the eighth-lowest among the states for which Rent.com offers data. Median rent is lower in North Dakota, Iowa, Kansas, Oklahoma, Arkansas, Mississippi, and Alabama. The national median is $1,983.
Cory, fascinating stats but I couldn’t get the map to stay put.
same here, m.
Hold your breathe . . . watch for the SD slumlords to reduce rents commensurate with the waning of inflation. hahahaha
The price/cost of coastal shipping containers is back to pre-pandemic levels. Inventories are piling up leading to ‘flush the inventory’ sales. Mortgage rates are falling.
If only South Dakota had an economic engine, an industry to power growth. If only. Ask oneself, what country is the world’s second largest agricultural products by value? “The country, which is a bit bigger than Maryland, not only accomplished this feat but also has become the world’s second largest exporter of agricultural products by value behind the United States. Perhaps even more significant in the face of a warming planet: It is among the largest exporters of agricultural and food technology. The Dutch have pioneered cell-cultured meat, vertical farming, seed technology and robotics in milking and harvesting — spearheading innovations that focus on decreased water usage as well as reduced carbon and methane emissions.”
“The Netherlands produces 4 million cows, 13 million pigs and 104 million chickens annually and is Europe’s biggest meat exporter. But it also provides vegetables to much of Western Europe. The country has nearly 24,000 acres — almost twice the size of Manhattan — of crops growing in greenhouses. These greenhouses, with less fertilizer and water, can grow in a single acre what would take 10 acres of traditional dirt farming to achieve. Dutch farms use only a half-gallon of water to grow about a pound of tomatoes, while the global average is more than 28 gallons.”
“Their centrality in global food exploration is indisputable: Fifteen out of the top 20 largest agrifood businesses — Nestlé, Coca-Cola, Unilever, Cargill and Kraft Heinz — have major research and development centers in the Netherlands.”
“PlantLab’s research and development center in Den Bosch is the largest such center for vertical farming in the world, and it uses limited light spectrum LEDs and plastic stacked production trays, and the plants grow in vermiculite with their roots in water. “Nothing is hand-harvested, nothing is touched by human hands,” Ockers said. The water is recirculated, meaning no water is lost in the growing process. For now, the system is most effective for growing leafy greens, herbs and tomatoes, but he said cucumbers, zucchinis and all types of berries are suited to this growing system. And by limiting the time between harvest and consumption, he said, food waste is minimized and nutrient density is much higher than traditionally grown crops.”
Paywall for this huge, informative article that makes one wonder why SD has an ag college or a state economic development council: https://www.washingtonpost.com/business/interactive/2022/netherlands-agriculture-technology/
John- PBS had a 4 part documentary called H2O: The Molecule that Made Us. It showed all the aspects of our water footprint and I believe what you talked about in the Netherlands was covered in the episode about Virtual Water. Really cool docuseries with ideas we are way too far behind as an “agriculture state”. We need to get with the program and be on the side of the solution. Right now, and until we make drastic changes in our culture of consumption and reliance, we are killing life.
Hail Netherlands *And 95% of the citizens speak better English than most Americans. My Dutch friends tell me they speak such good American English because they get USA tv sitcoms and every kid studies them to emulate us.
Once again, as with Covid-19, your Governor Noem doesn’t know what to do about rent gouging landlords, so she does nothing and labels it “supporting small government.” It’s all too transparent that she uses this tired Republican motto/campaign plank to hide her ignorance of how to fix problems and innovate new processes.
It’s absolutely the state government’s job to regulate the problem of money hungry, greedsters fleecing those with literally zero voice in Pierre. Unregulated “free markets” are what’s causing inflation and the refusal to admit it will take Republicans down farther than MAGA thinking did.
Florida and South Dakota are similar. The Black hills, Disney. Tourism and employment. Low rent states that are continuing to shaft their poor people. No state income tax. At least food isn’t taxed in Florida. We do let in all the crooks who use their I’ll gotten gains to buy big houses that can’t be taken away by lawsuits. Do you think those boys are MAGAs?