SeamusMcFly
Senior Member
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- Apr 3, 2008
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Economic cycles? The Real Estate BOOM has been going on since 1989 to 2008
2008 produced govt bailouts to keep the game afloat.
Then the Federal Reserve bank has continued its efforts by Deleveraging the dollar into a worthless status by loaning out the banks trillions.
IMHO Real Estate has never really rebalanced itself because of the destruction of the dollar so my point is Real Estate is increasing due to supply & demand.
So for SEAPORT not to have a very vibrant residential area built up since 1989 is insulting.
One more fact (from the BRA). The production of housing has been very slow during the time frame you just outlined. Particularly during the years 1990-1997 where new housing averaged about 250 new units a year, with a strong uptick in 1998 from 249 units in 1997 to 757 units in 1998.
There was quite the recession if you recall when the first Bush was in office from 1988-1992. 1998 above appears to coincide with the dot com boom that burst in 2000-2001, so although I don't have the numbers, the residential market would have tanked again.
Right now is probably the closest thing to a residential "boom" Boston has seen in over 25 years, and at least this time it's got a lot more of the high rise variety and multi-unit.
Here's a quick little op-ed that talks about the needs and the blockage. http://www.bostonglobe.com/opinion/2012/11/20/mcmorrow/8mcwdIYTrdVHm25wYDW9gJ/story.html
Hope that one doesn't get in the way either....
Given all that, I agree. The City has failed big time, and there should have been 1000's of units in the Seaport 2 decades ago.