Boston condos for sale: Some random thoughts on the Boston condo market. Where are we? Where are we going?
Here are my thoughts regarding Boston condos for sale in 2019, some good news — and some bad news.
- The good news, the Boston economy is strong, jobs are up and the population is growing.
- The bad news is Boston condo prices are going crazy. Try finding something in downtown Boston for for under $1,000 per sq/ft
- .Land acquisition is very expensive and permit process is too lengthy to accommodate the population growth, it means prices will continue to go up.
- This is a bad sign for first-time home buyers trying to own a piece of downtown Boston real estate.
- Current Boston condo for sale prices are unsustainable over the long run. Prices could drive young working people away — I’m fearing this could decrease Boston’s economic base.
- Economists are forecasting housing affordability issues into Boston’s future.
Overall, if the city can build more Boston condos for sale, prices will hopefully simmer down especially in the Boston luxury condo market,