Planning Council Makes a Housing Prediction

As most of you are aware the Boston area is already a very expensive city to rent an apartment or to purchase condominium or loft. The facts are this situation will not change in the future. But as we all know the expense is worth it to be able reside in such a wonderful city.

councilIn a new report, the Metropolitan Area Planning Council suggests that the Boston area will need 435,000 new apartments, condominiums and homes over the next quarter century. To put this is perspective that is enough to house the entire city of 2014 Boston.

On a positive note we will need a tremendous amount of construction in our beautiful city to fill the need for housing. This means jobs for the construction workers and also their support industries and of course the Real Estate Market. This is a great windfall for our entire city.

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Once Again Real Estate Proved to be the Best Investment

valueAs we begin 2014, we can look forward to a total rebound from the Great recession.
According to Zillow, in 2005 real estate values peaked at $604 billion and then bottomed out of $502 billion in 2011. But by the end of 2013 values had climbed back to $568 billion.  So Look out 2014!

 

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Trends in Real Estate 2014

According to the Urban Land Institute’s “Trends in Real Estate 2014 Report”, there will be some main changes in the real estate market in 2014. The biggest change will be the shift from investing in residential real estate to commercial real estate. And within the commercial market you will see that warehouse complexes with the most growth and retail properties to see the least growth.

As in 2013 you will see Apartments building in demand as the young professionals prefer renting over buying.

 

 

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