The Top 3 Challenges Shaping Boston Real Estate in the Coming Years
The Top 3 Challenges Shaping Boston Real Estate in the Coming Years:
1.) Soaring Property Taxes: Both residential and commercial property taxes have the potential to increase significantly, placing added financial strain on property owners and investors.
2.) Net Outbound Migration: Boston is experiencing a notable trend of taxpayers relocating to other areas, impacting local demand and market stability.
3.) Affordability and Rising Construction Costs: The city continues to grapple with overall affordability issues. Escalating construction costs are further exacerbating the housing crisis, making it increasingly challenging to develop and maintain accessible housing options people want and can afford.
Navigating these issues will require innovative solutions and collaboration across the industry to ensure Boston remains a vibrant and competitive market.
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