Rona looks at some studies showing how housing prices in Boston, Cambridge and other parts of Massachusetts are still too expensive for the average wage earner, despite price declines in recent years. It’s not just the price of homes. It’s also the cost of rents.
High housing prices are one of the reasons why it’s so important that the city of Boston continues to approve new apartment-complex developments. The supply-demand balance is still out of whack. The same applies to the suburbs.
Think about it: If prices are too high now, what will they look like if and when a full recovery arrives?
File under: More new housing, please