Here’s a shocker: The U.S. President doesn’t set Boston condo for sale prices
Boston Condos for Sale and Apartments for Rent
Here’s a shocker: The U.S. President doesn’t set Boston condo for sale prices
Here is another shocker. The president of the United States does not set interest rates. The Federal Reserve determines what interest rates will be and the president does not control the Federal Reserve, it is independant.
Building new Boston condo buildings is heavily regulated at the local level. The price of a Boston condo is what a willing seller will accept for it and what a willing buyer will pay.
The economic forces of supply and demand have a huge impact on prices.
When the government has programs that reduce the cost of buying a home the demand for housing goes up and so do the prices.
How to make Boston condos more affordable
I can think of a few things that would make houses more affordable.
- Lower interest rates on home mortgages.
- More houses – we need to build more housing.
- Less expensive regulations so that builders can build more affordable housing.
If the demand for housing were to go down that would also drive prices down.
Housing is complex. There are no simple solutions to our lack of affordable housing in downtown Boston or in Massachusetts in general.
Updated: Boston Real Estate Blog 2024
Boston Back Bay Condos for Sale
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Updated: Boston Real Estate Blog 2024
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