At least, that’s the conclusion reached by The Center for Urban and Regional Policy (CURP), a self-described "think and do tank", located at Northeastern University.
CURP members made presentations, last week, at a seminar I attended put on by the Greater Boston Real Estate Board / Greater Boston Association of Realtors.
The lecturers spoke at length on two subjects. First, their research has led them to the conclusion that 20-34 year old residents of Massachusetts are moving out-of-state due to the high cost of housing. Second, they believe there is a huge need for affordable housing, in Massachusetts, and that one way to deal with it is for the state government to get involved.
I will address their comments on affordable housing, and 40B, 40R, and 40S regulations, in a separate post.
Regarding the presentation on 20-34 year olds and their exodus from Massachusetts, I disagree with CURP’s theory. I don’t believe that 20-34 year olds have moved out of Massachusetts due to the high cost of housing. Rather, the high cost of housing, which for most of us is actually the high cost of living (housing, plus health care costs, plus taxes, plus transportation expenses), is but one of many secondary reasons that people of this age group have departed, over the past four years.
The number one reason that 20-34 year olds have left Massachusetts is because of a lack of job opportunities, as a result of the 2001-2003 recession.