Factor in still-high mortgage interest rates, reluctant home sellers, inflation, climbing property prices, and a lack of inventory, and you have a recipe for low apartment vacancy rates, ramped up demand, and higher rental prices.
And while rental markets are finally cooling, evictions have risen, the country is seeing the highest homelessness counts on record, and the need for rental assistance is greater than ever.
We've learned during the housing crisis in 2008 and the pandemic that the Greater Boston real estate market doesn't behave like the rest of the country; price drops aren't as acute due to the demand created by our educational, tech, and finance sectors.
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