boston-real-estate-hole

Scott Van Voorhis writes in this week’s Banker & Tradesman that the Bay State won’t see the steep home price drops that other parts of the country have seen, including communities in California.

He points out that one of the reasons home prices are a bit more resilient here is that there hasn’t been the type of overbuilding that took place in places like Phoenix and Las Vegas. The numbers from the U.S. Census bureau show that to be the case:

The number of housing permits issued in Massachusetts fell 61 percent from 2005 to 2008. More than 23,800 permits were issued in 2005. By 2008, the number of permits dropped to 9,241.

By comparison, Arizona — which has a similar-sized population as Massachusetts — issued almost four times as many permits in 2005 (91,436). Three years later, the number sank to 25,232 – still much higher than the permitting activity in Massachusetts.

Tennessee, another state that has about the same population as the Bay State, also saw more building. In 2005, more than 46,000 housing permits were issued – almost double Massachusetts’ level. By 2008, there were 21,699 permits – 57 percent more than Massachusetts.

Source: Banker & Tradesman

File this under: No overbuilding just a few holes in the ground.

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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