2021 Real Estate Observations (Boston, Cambridge, Somerville: how much, neighborhood, university)

[BostonBornMassMade]

Is Boston losing its mojo? Experts say renters are growing open to, but may not be ready, to leave

Some more salient parts for me....

“From March through December, rents in Boston [proper] fell by 20.6 percent, which is the third-steepest decrease of any of the 100 largest cities in the country,’’ said Chris Salviati, a housing economist at the rental website Apartment List. Only San Francisco and Seattle saw deeper declines, and Salviati said it’s not clear that rents in expensive cities have hit bottom yet.

Whether or not renters are actually bailing on Boston, they are increasingly open to the idea, said Al Norton, rental manager at Unlimited Sotheby’s International Realty in Brookline. Norton chalked it up to “the high price of mediocrity,’’ as rents, even outside the city, have risen without a corresponding increase in quality.









I think the times have changed for the forseeable future, especially with new strains of Corona popping up and one in South African that this vaccine might not work on.

[msRB311]

They're probably leaving because of people like Rachel Rollins.

[wolfgang239]

Originally Posted by msRB311

They're probably leaving because of people like Rachel Rollins.

Your girl crush has a lot less impact on people's day to day than you think.

[msRB311]

Originally Posted by wolfgang239

Your girl crush has a lot less impact on people's day to day than you think.

I guess you speak for everyone ?

[BostonBornMassMade]

Originally Posted by msRB311

They're probably leaving because of people like Rachel Rollins.

Weird... it's almost like they listed several real reasons grounded in reality and not Rollins, hmm.

[porterhouse]

Originally Posted by BostonBornMassMade

“From March through December, rents in Boston [proper] fell by 20.6 percent, which is the third-steepest decrease of any of the 100 largest cities in the country

I think this can be directly correlated to the fact that the proportion of student renters in greater boston is likely among the highest in any of these cities. Many students did not (or could not in the case of many international scholars) come back to campus in the fall. Once the virus is under control and universities open, the rental market will rebound.

[GeoffD]

Originally Posted by porterhouse

I think this can be directly correlated to the fact that the proportion of student renters in greater boston is likely among the highest in any of these cities. Many students did not (or could not in the case of many international scholars) come back to campus in the fall. Once the virus is under control and universities open, the rental market will rebound.

Maybe a few more years of COVID-19 would cause market forces to goad landlords into upgrading their dilapidated rental housing stock?

[skeddy]

people seem to believe Zillow dollars are real dollars.... lol

[massnative71]

Originally Posted by skeddy

people seem to believe Zillow dollars are real dollars.... lol

I could only wish!

[Shrewsburried]

Originally Posted by GeoffD

Maybe a few more years of COVID-19 would cause market forces to goad landlords into upgrading their dilapidated rental housing stock?

I think it’s more likely those slumlords would simply take on subsidized tenants ... guaranteed government dollars ... though their units might not even pass a section 8 inspection.