Transition Begins in Boston, for First Time in a Generation
The New York Times - 11/09/2013
In addition, housing is limited. The new arrivals are competing with middle- and lower-income families for the older, existing housing stock, said Barry Bluestone, the director of the Dukakis Center for Urban and Regional Policy at Northeastern University. “The prices of triple-deckers are going through the roof now,” he said, and longtime residents are being priced out of the market.
Rents, he said, are the third highest in the country, after New York and San Francisco. And housing prices in parts of the city are astronomical: the median price of a single-family home in downtown Boston, including the South End, the Back Bay and Beacon Hill, is now $2.1 million, according to the Warren Group; a year ago, it was $1.8 million.
“It’s not too difficult to build housing for millionaires or for poor people,” Mr. Bluestone said, noting that government programs help the very poor. “But what we can’t produce is affordable housing for working families.”