Welcome!

News Feed Item

Boston Real Estate - A Tale of Two Desires

LOS ANGELES, Nov. 20, 2012 /PRNewswire-iReach/ -- It may not be the best of times, but it's definitely not the worst of times! Since 2005,Boston's housing market has been operating at half-speed. Only about 6,000 units were added to meet the city's growing population each year. That's about half of what was being added in the booming years before that. And, many of those new housing units are smaller than their predecessors. It's a sign that some of Boston's new residents are looking for something affordable to fit into their smaller budgets. While the smaller, more affordable trend is expected to continue for the foreseeable future, it is now full-speed ahead in Boston – at least, according to the results of a new study from the Dukakis Center for Urban and Regional Policy at Northeastern University. In fact, the study says that Boston's developers will need to double or triple their efforts through 2020 in order to meet the demand that's expected to hit Beantown!

(Photo: http://photos.prnewswire.com/prnh/20121120/CG17318)

How will the fiscal cliff affect the housing market?

But what about 2012? What's the status of Boston's housing market right now? Today, Boston's housing market is all about the slow signs of recovery. Home sales have started to go back up. Vacancies have started to go back down. The number of permits being applied for has started to go back up. The number of foreclosures has started to go back down. Rent prices are also up. Of course, like in many other cities across the country, landlords in Boston raised rent prices when they saw how hesitant people were to buy. In fact, the average Boston rent price is over $1,800 – a record high for the city. And, so far, there's no indication that those high rents are going to come down any time soon. In fact, rent prices have become a real problem in Boston. It has become harder and harder for people to find affordable places to rent. More and more technology companies have moved into the area recently, and they have brought lots of young employees with them. However, many of those employees have been afraid to buy and have been priced out of the renters' market. As a result, the Boston housing market has spent much of the year at odds with itself!

Why you should buy a home in December

So, what about all of the new construction that the study talked about? The majority of it will probably not be single-family homes. According to various expert scenarios, as much as 53% of the new construction over the next several years will come in the form of multi-family housing – like condos and townhomes. Even the lowest estimates have the amount of new multi-family housing at 48%. Even though 2020 is a long way away, Governor Deval Patrick has a goal of creating 10,000 new multi-family units every year – beginning right now. His administration is starting with the new Compact Neighborhoods program, which is designed to give incentives to developers that create housing near the MBTA and town centers. That way, buyers can be near public transit and major job centers – which will hopefully give them the motivation they need to buy. It's also a great incentive for younger buyers, who don't want to live in the suburbs. But the Boston housing market isn't all about the younger generation. Lots of Baby Boomers are relocating to Beantown these days, too. And since they're all downsizing, the multi-family housing trend is just what they're looking for. They'll be able to get all of the perks of living in Boston, without having to deal with all of the hassles that come with owning a single-family house. Two groups. Two different desires. In the end, though, they'll both be happy with the same end result!

http://www.realtypin.com

Media Contact:

Daniel Torelli RealtyPin.com, 514-836-1432, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE RealtyPin.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, will discuss the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports. The session will include a working demo and a technical d...
SYS-CON Events announced today the Enterprise IoT Bootcamp, being held November 1-2, 2016, in conjunction with 19th Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA. Combined with real-world scenarios and use cases, the Enterprise IoT Bootcamp is not just based on presentations but with hands-on demos and detailed walkthroughs. We will introduce you to a variety of real world use cases prototyped using Arduino, Raspberry Pi, BeagleBone, Spark, and Intel Edison. Y...
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
If you’re responsible for an application that depends on the data or functionality of various IoT endpoints – either sensors or devices – your brand reputation depends on the security, reliability, and compliance of its many integrated parts. If your application fails to deliver the expected business results, your customers and partners won't care if that failure stems from the code you developed or from a component that you integrated. What can you do to ensure that the endpoints work as expect...
Traditional on-premises data centers have long been the domain of modern data platforms like Apache Hadoop, meaning companies who build their business on public cloud were challenged to run Big Data processing and analytics at scale. But recent advancements in Hadoop performance, security, and most importantly cloud-native integrations, are giving organizations the ability to truly gain value from all their data. In his session at 19th Cloud Expo, David Tishgart, Director of Product Marketing ...
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.