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.