In early June our Governor told the state of Massachusetts that we could move to Phase One in re-opening our economy. This would require social distancing, wearing masks, and limiting gatherings to not more than 10 people.
So here we are today. It is the second week of July. Our Boston workers in all fields are slowly making their way back to work in an abbreviated way.
Beacon Hill Apartments
Will the phase 3 opening help Beacon Hill landlords rent out their apartments for rent? Many of my Beacon Hill broker friends say yes. Unfortunately, I don’t share their same optimistic view.
I sense a trend of young families, who once cherished the city life now want to live in the burbs with a small back yard. Second, the main attraction of living in Beacon Hill or Midtown was to spend more time with loved ones and not commuting to work, but I see working from home, not just a remedy for COVID-19, but an entire shift in the overall economy that is not going away.
Lastly, I fear Colleges and Universities will adapt and become more acceptable to have on-line classes in lieu of attending classes in person. If so, this will take a big chunk of the Beacon Hill apartments needed as demand will lighten up.
Boston Real Estate and the Bottom Line
On June 1. 2020 there were 190 Beacon Hill apartments for rent today we have 270.
Beacon Hill apartments for Rent:
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