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Old 01-25-2021, 09:53 AM
 
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Quote:
Originally Posted by Lampert View Post
People that upgrade to new units may vacate older units that remain empty because they are crumbling? Maybe?
There are a LOT of units in Boston that are really bad.
Quote:
Originally Posted by BostonBornMassMade View Post
I don’t know that that’s true, where your source? I see rents lower than ever and lots of rent specials. Also most 1BRs in assuming are going to couples.

Massachusetts s es a huge net outflow of people in sure no shortage of them come from Boston. With immigration lower and rents higher id have to imagine there are many vacant buildings around the city.

I don’t see the to dispute Census numbers that fall in line with an established multi year trend when they’re are logical explanations right there.

But alas, this is what the Boston aura does it convinces folks that Boston is above reproach and immune to logical trends. We’ll see what the 2020 Census says.

Lot of these project that are being built were pre leased and/or theyve come to far to halt construction or hire a new team. If they built in 2020 it is because they were many years into the process. Almost all the proposals I see now are for Lab space.

What I been saying all along is that despite them being "luxury units" constructed, just the sheer number of units will provide some relief to the housing market citywide once it gets to that point of saturation. Go ahead and flood the city with "luxury" housing. BRING IT ON.
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Old 01-25-2021, 10:03 AM
 
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Originally Posted by massnative71 View Post
What I been saying all along is that despite them being "luxury units" constructed, just the sheer number of units will provide some relief to the housing market citywide once it gets to that point of saturation. Go ahead and flood the city with "luxury" housing. BRING IT ON.
You can't use rent prices from 2020 to speculate on the market long term IMO.
It really depends what is going to happen once covid is gone.
A dip in rich foreigners buying real estate in the US could be a big deal for Boston, if I am not mistaken this trend had already started in NYC before covid. Boston?
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Old 01-25-2021, 10:05 AM
 
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Quote:
Originally Posted by massnative71 View Post
What I been saying all along is that despite them being "luxury units" constructed, just the sheer number of units will provide some relief to the housing market citywide once it gets to that point of saturation. Go ahead and flood the city with "luxury" housing. BRING IT ON.
This has been the argument for at least 20 years.
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Old 01-25-2021, 10:06 AM
 
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Quote:
Originally Posted by Lampert View Post
You can't use rent prices from 2020 to speculate on the market long term IMO.
It really depends what is going to happen once covid is gone.
A dip in rich foreigners buying real estate in the US could be a big deal for Boston, if I am not mistaken this trend had already started in NYC before covid. Boston?

We could very well follow NYC, just by looking at the current crop if mayoral candidates.
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Old 01-25-2021, 10:07 AM
 
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Originally Posted by bostongymjunkie View Post
This has been the argument for at least 15 years.

And until this point, demand has still exceeded supply. "Until this point".
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Old 01-25-2021, 10:13 AM
 
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Originally Posted by massnative71 View Post
And until this point, demand has still exceeded supply. "Until this point".
That's only because the demand for moderate income housing has eased a bit.
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Old 01-25-2021, 10:15 AM
 
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Originally Posted by massnative71 View Post
We could very well follow NYC, just by looking at the current crop if mayoral candidates.
I doubt this is very related to the mayor. This is more related to international dynamics.
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Old 01-25-2021, 10:20 AM
 
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Quote:
Originally Posted by bostongymjunkie View Post
That's only because the demand for moderate income housing has eased a bit.

Exactly. And I'm sure we will see more and more "luxury" housing become "moderate income" housing. Note that most of these are "luxury" in name (and until now price) only. Anywhere else in the country they would be simply considered "standard".
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Old 01-25-2021, 10:26 AM
 
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Originally Posted by Lampert View Post
I doubt this is very related to the mayor. This is more related to international dynamics.

No it's very much the mayor in that case. What took 20+ years in the rebuilding of NYC, Deblasio destroyed in 2 or 3. All of Boston's next likely mayors are very close to him in policy. I'm trying to convince my mother to sell her house now.
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Old 01-25-2021, 10:36 AM
 
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Originally Posted by massnative71 View Post
No it's very much the mayor in that case. What took 20+ years in the rebuilding of NYC, Deblasio destroyed in 2 or 3. All of Boston's next likely mayors are very close to him in policy. I'm trying to convince my mother to sell her house now.
I don't know much about NYC. What has DeBlasio destroyed? The median sale price seems pretty stable looking at the graphs
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