Commercial Interests
A Banker & Tradesman Blog
Boston’s Luxury Condo Market Still Cold
Red hot for years, has the Boston luxury condo market finally lost its sizzle? It looks like it – and developers’ ability to offer cash back at closing could be keeping prices from coming down.
Downtown Boston Needs More than New Zoning to Bounce Back
Can downtown Boston escape the so-called urban doom loop? Probably. But it’s going to take a lot more than new “skyline” zoning for taller towers to bring it back.
Don’t Let NIMBYs Kill Green Power
NIMBY local pols and naysayers wrecked the housing market in Massachusetts. Now, they’re threatening to do the same thing with the state’s new clean energy industry unless Beacon Hill can stop them.
Boston Mayor Shocks Real Estate with Office Tax Rate Hike
The scale of Mayor Michelle Wu’s planned massive hike to tax rates on office, lab and retail buildings comes at a terrible time. And she seems to be ignoring an important alternative strategy.
Stop. You’re Making It Worse
Recent hoopla about soft landings aside, the Federal Reserve’s drive to bring down prices has made immeasurably worse what was already the most expensive item in Americans’ budgets: the cost of housing.
To Get Real Housing Production, Let’s Break Out the Carrots
It’s become increasingly clear that the MBTA Communities housing law is no silver bullet. So why not make new housing a profit center for towns and suburbs, rather than a perceived drag?
It’s Two Steps Forward, One Step Back in Fixing Our Biggest Problems
The last week shows progress is likely to be two steps forward and one step back given decades of neglected maintenance at the T and the NIMBY backlash to the Healey administration’s housing plans.
Be Careful What You Wish For, Madam Mayor
Don’t like the Boston Planning & Development Agency? Think it’s too close to developers and business interests and should be abolished? Just amp up the fractious Boston City Council’s influence on what gets built.
Goodbye to Downtown Skyscraper-Building
When the South Station tower opens next year, it will be one of the largest office projects ever built in the city. It may very well be one of the last as well.
Fed’s Refusal to Cut Rates Drags Down Housing Market
When it comes to describing what’s happening right now in the real estate market, you can take your pick, but downturn, recession or even depression all seem like good fits right now. You just wouldn’t know it from reading the business press.
The Next Banking Panic?
Nearly a year after SVB’s failure, a potentially bigger banking crisis is looming, this time centered on the troubled world of commercial real estate loans made on what are now half-empty downtown office towers across the country.
Less Development Made Newton’s Teacher Strike Worse
As Newton’s teacher strike drags on, it’s worth asking: Doesn’t Newton’s historical development skepticism play a role in the city’s current political and financial predicament?
Prison Closures Offer Great Opportunities for More Housing
Gov. Maura Healey has promised to “go big” on housing as he pushes a multibillion-dollar spending plan. But three big pieces of disused or soon-to-be-disused state property show she’s got more work to do in that regard.
Liberal Cambridge Takes a Pass on Rent Control
Is it time to put aside the old schtick about the “People’s Republic” of Cambridge? The city has been an outlier among its inner-core peers in not pursuing rent control last year. The reasons for that are rooted in history.
Is a Boston Housing Tax Break Really Just a ‘Work in Progress’?
Wu’s decision not to move forward at this time disappointed housing developers with projects stalled on the drawing boards, but industry circles aren’t losing hope just yet.
Is Something Frightening Hiding in REIT’s Retrenchment?
Moves by the California-based Alexandria Real Estate Equities to dump a significant slice of its Boston-area life science real estate portfolio speak volumes about the state of the local lab market, none of it good.
Watch Out: Real Estate Slumps Bring Recessions
On paper, the economy couldn’t look finer. But little if any attention is paid to an iceberg looming ahead – the massive and growing real estate slump – the kind of iceberg that typically prefigures a recession.
Boring Predictions? Not with 2024 Around the Corner
Writing a column about the big stories to watch for the year ahead is typically a fairly tame exercise. Not this time. Here are my bets for the big stories are likely to make 2024 a memorable year.
It’s the Housing, Stupid
The housing crisis has gone national, spreading from Boston and a few other blue cities to states and markets across the country. And along the way, it is helping poison the nation’s political mood by deferring or killing the dreams of a generation.
Boston Looks to NYC to Get Construction Moving
With housing construction stalled across Boston, the Wu administration is thinking big when it comes to ways to get apartment and condominium projects moving again.
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