Focus on Market-Rate Housing Production Misses the Biggest Shortage

Efforts like Gov. Charlie Baker’s Housing Choice bill – which would amend state law to make it easier for local zoning boards to approve certain categories of housing – may assist in the creation of more market-rate housing in some communities. But it would not address the dire shortage of affordable housing units among the state’s poorest residents.

Troubles Ahead, Troubles Behind

We’ve long known that the recovery from the Great Recession was unequal. In tandem with a report that a key housing market indicator is slowing comes several reports that highlight just how much more difficult it has been – and will continue to be – particularly for Millennials, and probably the generation after them.

Spot the Real Crisis

Attorney General Maura Healey clearly can tell a true crisis from a fake one. When it comes to shortages, Massachusetts’ towns foot-dragging and obstruction on housing construction just can’t compete with the regulatory delays faced by pot shops, which she’s aggressively putting a stop to.

Trulia Takedown

Did you hear the news? There’s no housing crisis after all! In fact, we have never had it so good, with homes more affordable than they have been in 40 years, not just in Peoria and Pittsburgh, but in Boston, San Francisco and New York!

Without exception, everyone in real estate is talking about the lack of inventory. It’s been sinking for years – creating a lot of pent-up homebuyer demand – and is now at historic lows.

Sinking Inventory Drives Home Prices Higher

Economics 101 says increasing demand coupled with decreasing supply equals rising prices – and to the surprise of no one, the end of this trend in the Bay State’s real estate market is nowhere in sight. The median sale price in 2017 jumped 5 percent to $365,000, a new record high, according to recently released analysis from The Warren Group, publisher of Banker & Tradesman. The number of single-family homes sales dropped 1 percent year over year in the state – a difference of just 102 sales.