TheRifleman
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http://somerville.wickedlocal.com/n...me-rule-petition-for-real-estate-transfer-fee
I think this picks up steam in the surrounding areas of Boston
Somerville, Medford, Chelsea, East Boston, Everett, possibly Malden.
Cambridge is already gone.
Boston is on fire in real estate and I don’t see relief unless interest rates are dramatically risen which will not happen.
The problem at this point is there needs to be more supply on the market it doesn’t matter if it’s luxury or not. More supply on major transit lines t help contain traffic.
The city of Boston should try to work with south station, Winthrop and harbor garage developments to entice those developements with a possible 1000-2000 condo units each since they are all located on the massive transit lines. The city should help the developers flood the market to try to curtail and possibly drive down housing and rental prices at this point which could offer relief outside the city until we have a massive investment in transit again.
Overall I think Somerville is insane for proposing a transfer tax fee1%. That is not going to do anything for the poor stiffs that don’t own in somerville. They will be forced out because market rents will continue to trend upward. Also the taxpayers are paying insane market rents for section 8. This can’t continue they will need to move in less desirable areas like Worcester, New Bedford, Springfield
I think this picks up steam in the surrounding areas of Boston
Somerville, Medford, Chelsea, East Boston, Everett, possibly Malden.
Cambridge is already gone.
Boston is on fire in real estate and I don’t see relief unless interest rates are dramatically risen which will not happen.
The problem at this point is there needs to be more supply on the market it doesn’t matter if it’s luxury or not. More supply on major transit lines t help contain traffic.
The city of Boston should try to work with south station, Winthrop and harbor garage developments to entice those developements with a possible 1000-2000 condo units each since they are all located on the massive transit lines. The city should help the developers flood the market to try to curtail and possibly drive down housing and rental prices at this point which could offer relief outside the city until we have a massive investment in transit again.
Overall I think Somerville is insane for proposing a transfer tax fee1%. That is not going to do anything for the poor stiffs that don’t own in somerville. They will be forced out because market rents will continue to trend upward. Also the taxpayers are paying insane market rents for section 8. This can’t continue they will need to move in less desirable areas like Worcester, New Bedford, Springfield