| With a strong hurricane season in the forecast and inflation continuing to ripple across the U.S. economy, multifamily operators from Boston to Boca Raton are battling rising operating costs according to a new report from Yardi Matrix.
What does that look like locally? Around 6 percent overall expense growth Greater Boston and a mere 0.2 percent in the combined Worcester and Springfield areas.
What else is on tap today?
- No Boomer Sellers: A new survey of Baby Boomers and members of the Silent Generation has dismaying news for anyone hoping for a “silver tsunami” of downsizers bringing their houses to market.
- Munis Critique Housing Bill: Municipal officials used the latest hearing on Gov. Maura Healey’s $4 billion housing bill to attack one of its key policy changes: legalizing accessory dwelling units statewide.
- $25M Quincy Sale: A Quincy apartment complex developed in 2018 was acquired by a Brookline investor this week for $25.45 million.
- Powell Still Sees Rate Cuts: Chair Jerome Powell said Wednesday he still thinks the central bank will cut its benchmark rate this year, despite reports showing that inflation picked up recently.
The latter metros’ advantage continued to hold in the field of insurance costs, with Boston seeing a bit over 20 percent growth in premiums while Worcester and Springfield saw only 6.7 percent growth.
Show me the data!
Mortgage interest rates stayed near 7 percent this week.
What did I miss?
Here’s what you might have missed in Sunday’s newsletter. Not a B&T subscriber? Fix that here.
- Early-year data from several sources has shown an uptick in sold homes and new listings. But some are skeptical that the state is seeing signs of a market becoming unstuck.
- Municipalities should take a good look at the land they own through a New Urbanism lens, and ask themselves what they could do to turn it into homes.
- Columnist Lew Sichelman wants to set the record straight about what is – and isn’t – happening following the NAR commission lawsuit settlement.
