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
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
When applications are hosted on servers, they produce immense quantities of logging data. Quality engineers should verify that apps are producing log data that is existent, correct, consumable, and complete. Otherwise, apps in production are not easily monitored, have issues that are difficult to detect, and cannot be corrected quickly. Tom Chavez presents the four steps that quality engineers should include in every test plan for apps that produce log output or other machine data. Learn the ste...
Using new techniques of information modeling, indexing, and processing, new cloud-based systems can support cloud-based workloads previously not possible for high-throughput insurance, banking, and case-based applications. In his session at 18th Cloud Expo, John Newton, CTO, Founder and Chairman of Alfresco, described how to scale cloud-based content management repositories to store, manage, and retrieve billions of documents and related information with fast and linear scalability. He addresse...
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
With more than 30 Kubernetes solutions in the marketplace, it's tempting to think Kubernetes and the vendor ecosystem has solved the problem of operationalizing containers at scale or of automatically managing the elasticity of the underlying infrastructure that these solutions need to be truly scalable. Far from it. There are at least six major pain points that companies experience when they try to deploy and run Kubernetes in their complex environments. In this presentation, the speaker will d...
Containers and Kubernetes allow for code portability across on-premise VMs, bare metal, or multiple cloud provider environments. Yet, despite this portability promise, developers may include configuration and application definitions that constrain or even eliminate application portability. In this session we'll describe best practices for "configuration as code" in a Kubernetes environment. We will demonstrate how a properly constructed containerized app can be deployed to both Amazon and Azure ...
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...