The Boston Business Journal raises an important issue: “With nearly 4,000 mostly luxury apartments under construction or in the pipeline in the Hub, some are wondering whether many of these units — most priced from $3,000 for a 350-square-foot studio to more than $8,000 for a two-bedroom penthouse — will find renters.”

Our reaction: No. Boston isn’t building too many luxury apartments. Of course, the market could always collapse. Developers could lose big time. They may have bet wrong. But that’s their risk. The city itself needs more housing. Housing prices here are crazy and they’re harming the economy. Young workers can’t afford to live here anymore. By almost every market measurement, supply simply isn’t keeping up with demand.

Even if some projects were to go belly up, we’d still have the new housing units. Someone would take over the buildings at bargain-basement prices, probably during bankruptcy proceedings — and then re-rent them out at more affordable prices. That’s how capitalism works.

Here’s hoping the city doesn’t try to somehow micro-manage the market, as if it’s the city’s job to protect developers from themselves. There’s a lot of smart developers who think the city needs these new apartment units. Let’s see if they’re right. Let ’em build.

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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