When we moved to North Dakota in 2012, the housing situation was in crisis. We didn’t realize just how bad it was until we arrived and settled in. We had done plenty of internet research but at the time, blogs and social media groups were lacking. It was hard to really understand just what we were in for. It’s now 2015 and things have changed quite a bit. We were lucky back in 2012 with regards to housing and I would never suggest that someone do things the way we did. However, as I write this today there is plenty of housing.
A bubble is forming. The drop in oil this last year has caused several things to happen. When thousands of people began streaming into Williston and surrounding areas, many desperate for work it was not uncommon to find them living in situations that people under ordinary circumstances would never consider. Investors came and saw the potential to cash in big and cash in quick. They built apartments and some single family homes at record rates. With that came record rents. We found ourselves in the spotlight more than once because of the high rent.