Just about everyone agrees Metropolitan Boston has a housing crisis.
That’s the opening line in a new study by a coalition of major housing industry and advocacy groups the Globe described as the first comprehensive review of zoning laws in Eastern Massachusetts in more than a decade.
Then the report’s continues….
We just surpassed New York City to become the third most expensive large metro rental market in the country. Single-family and condo prices have continued to climb, with median sale prices of nearly $430,000 across the entire metro area, a 4 percent increase since the end of 2017. Renters are being hit with rent increases and evictions, causing housing instability, displacement, and homelessness. In fact, throughout Massachusetts, one out of every four renters – and even one out of every ten homeowners – is “extremely cost burdened,” paying over 50 percent of their income for housing. For those without high incomes and substantial savings, the idea of homeownership is an impossible dream.
The expensive cost of housing not only affects individual households, but also negatively affects neighborhoods and the region. When affordable options are not available near where people work, they move farther away, resulting in more traffic congestion. The high cost of housing may also discourage companies from moving to or expanding in the region, affecting our economic competitiveness. In order to attract new businesses and retain young talent, there must be homes available and affordable to a range of income levels. One principal reason – though by no means the only one—for the region’s housing affordability crisis is the mismatch of demand and supply. This is a problem decades in the making. In February 2001, the Archdiocese of Boston and other major stakeholders issued a call to address the housing crisis in Greater Boston, releasing a report determining that 36,000 additional homes were needed in the next five years to stabilize rents and home prices. We did not meet that benchmark.
Having participated in debates over many years locally, I wonder: Does just about everyone in Newton agree that Metropolitan Boston has a housing crisis”?
Do you agree that Metropolitan Boston has a housing crisis?
Yes or no?
PLEASE NOTE: I’m not asking if you support Northland or Riverside or Washington Street or any other project or if you think those projects help or hurt the problem. We have lots of threads here to discuss this.
On this thread, I’m just interested in knowing if you agree that Metropolitan Boston has a housing crisis?
Yes or no?