Posts tagged real estate prices
Boston's Housing Crisis Is Attracting Investors

Boston is facing a major housing crisis due to the lack of housing supply. Rents are on the rise not just in Boston, but in the suburbs around Boston as well and vacancy rates are around 3%. While it is a bad situation for renters in the area, investors from all around the country are looking to take advantage of the market by purchasing multifamily properties. To read more, click here.

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Can Millennials Afford Homes?

Millennials are in quite a different position than their parents and grandparents were when it comes to the prospect of buying a home. A recent report showed that in 1975, it took 9 years for someone earning the median salary to save up for a 20% down payment on a home (assuming they saved 5% of their income per year) and now it takes 14 years. This change is even more extreme in well-known cities across the US - 43 years in Los Angeles, 40 years in San Francisco, 36 years in New York, and 30 years in Boston. There are many reasons why this is the case such as a scarcity of housing and restrictive zoning laws. To read more, check out this article that summarizes Unisom’s report about the increasing gap between income and real estate prices.

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