#housing-inventory-shortage

#housing-inventory-shortage

Strong and resilient economy: Boston's economy is powered by robust sectors like technology, life sciences, healthcare, and higher education. This economic diversity and strength attract a steady stream of high-income professionals and create consistent housing demand. Persistent housing inventory shortage: Boston's housing supply has consistently fallen short of demand due to limited developable land, strict zoning restrictions, and high construction costs.

The CEO of Meredith Whitney Advisory Group, whose prediction of the Great Financial Crisis earned her the moniker "Oracle of Wall Street," pointed out in a Financial Times op-ed that more than 54% of homes are owned by seniors, up from 44% in 2008. She added that 79% of seniors own their homes, and three-fourths of them don't have a mortgage, meaning they have an enormous amount of equity that can help cover rising homeownership costs, such as insurance.