It’s probably official now: So-called “escalation clauses” are back in the Boston area, last seen here about 10 years ago during the run-up to the previous peak prices around 2005. What are “escalation clauses”? They’re a little-used negotiating tactic deployed as a sort of last resort during multiple-bid situations, i.e. in a hot housing market [...]
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Archive for the 'Boston Real Estate' category
The Globe has an excellent interactive map and other stats showing that Bostonians have to shell out 22.3 percent of their income to pay for housing, specifically mortgages, making it considerably higher than the national average. But the Bay State’s percentage is actually slightly down from previous years — and it’s far lower than what’s [...]
The Globe has a front-page story this morning on growing concerns that there may soon be a glut of luxury apartments in Boston due to all the ongoing downton construction. Some people say it’s time for developers to shift gears and start building other types of housing in other areas of the city, which is [...]
The Herald has crunched some numbers and come to the conclusion that cheap condos in Boston are going the way of the dodo birds: “The number of Boston condominiums for sale for under $500,000 has plummeted by 84 percent over the past four years, leaving many people priced out of the market, statistics show. “There [...]
A group of Boston developers say people can expect even more mixed-use developments in the city, with billions of dollars of additional projects on the way. It’s a pretty amazing time in Boston, yes? Developments and cranes are everywhere — and officials are confident that even more are on the way. One minor (or not [...]
The Boston Redevelopment Authority’s long-anticipated overhaul has begun with the layoffs of 14 people at the city agency. And this is just the start, we assume. The unit eliminated yesterday — a business and economic development division created only last year — was easily expendable. The BRA’s job is real estate re-development, not new economic [...]
This must be Gentrification Day at Boston Real Estate Blog. No sooner had we hit “publish” on the post below about Somerville’s gentrification moves, we noticed this front page story in the NYT about how a number of cities, including Boston, are trying to curb the effects of gentrification on long-time neighborhood residents. What really [...]
Inventory, inventory, inventory. Or lack thereof. That’s the ‘biggest impediment’ to to the local housing market, experts say. And, oh, truly crappy weather is an impediment too, though this weekend isn’t going to be bad, or so say the alleged weather experts. File under: No kidding.
There’s a little room here for John Henry, the new owner of the Boston Globe, to still downplay, clarify or backtrack from his comments. But Boston magazine’s quote from Henry sure sounds like he’s made up his mind about moving the newspaper out of its current location on Morrissey Boulevard to somewhere else. The Herald [...]
Harvard’s Ed Glaeser says Boston might learn something from NY Mayor Bill de Blasio’s call to raise property taxes on vacant lots in the Big Apple, as a way to get land owners off their butts and develop properties. We have no idea if this is at all applicable to Boston, for we’re admittedly not [...]