On Friday, the Minneapolis City Council approved the Minneapolis 2040 plan, which would shift the use of residential land now reserved for single-family homes to allow two- and three-family buildings, with the potential to triple the number of housing units in the city. Minneapolis mayor Jacob Frey noted, “When you have demand that is sky-high, and you don’t have the supply to keep up with it, prices rise.” The Minneapolis 2040 rezoning could affect housing supply and rents and includes other measures, such as an increase in housing density near transit spots and inclusionary zoning to require new apartment developments to set aside 20 percent of their units for moderate-income households.