Bostonians have been fleeing to Rhode Island since at least 1636, when exiled minister Roger Williams founded Providence. But while Williams was chased out of Massachusetts for his “new and dangerous opinions’’ (such as separating church and state), it’s scandalously high housing prices that are sending Bay Staters over the border nearly 400 years later. “Last year, probably 25 to 30 percent of our business was from people priced out of Boston and surrounding communities,’’ said Ben Scungio, an agent and office manager with Mott & Chace Sotheby’s International Realty in Providence. “It has changed dramatically in the last 12 months,’’ said Sally Lapides, president of Residential Properties in Providence. “It used to be that we only saw two-briefcase families who had jobs in both cities,’’ she explained, with couples split between Boston and Providence often choosing the latter as a home base because … [Read more...] about Home buyers weary of Boston prices slip south to Rhode Island
Middle income millennials priced out of housing market
The Union-Tribune examined if San Diego County can build more housing to slow the pace of rent and home price increases.What we found: - Zoning changes, emphasis on townhomes and reduced regulation would likely speed up construction; - Biggest hurdles continue to be anti-growth sentiments and lack of land zoned for housing;- Solutions for the future may include streamlined permitting processes, a change in parking requirements and a greater mix of housing typesSan Diego County housing: Here’s the full storySan Diego County should be awash in new housing projects.Unemployment is low and wages are rising. Many millennials are marrying, having children and aiming to buy. Their parents want to downsize.But the market is not responding.Last year only about 10,000 housing units were approved, and most were for rent, not for-sale homes and condos. Norm Miller, a real estate economist at the University of San Diego, recalls attending a recent community meeting of Morena Boulevard-area … [Read more...] about Special report: Can we build our way out of the housing crisis?
By Casey Tolan | [email protected] | Bay Area News Group PUBLISHED: February 24, 2019 at 6:00 am | UPDATED: February 24, 2019 at 6:05 am In the race for the White House, housing seldom gets much attention — but that could be about to change. As California and other states face dramatically rising rents and home prices, three of the top Democratic contenders in 2020 — Sens. Kamala Harris, Cory Booker and Elizabeth Warren — have already introduced major proposals in the Senate that would reshape affordable housing in America. With California’s primary poised to play an unusually important role next year, and the state’s affordability crisis growing too big to ignore, more candidates could be pressured to take a stand on the issue as they hit the campaign trail from Berkeley to Beverly Hills. “We’ve already seen more attention on housing and affordable housing policy in these first few weeks and months than we have in entire … [Read more...] about Here’s how presidential candidates want to help solve the housing crisis
Google avocado-toast restaurants, squeeze into some skinny jeans and be prepared to embrace any number of other clichés about millennials, home real estate pros. They’re going to be your prime customers in 2019. Speaking at the Denver Metro Association of Realtors economic summit a few weeks ago, Danielle Hale, chief economist for Realtor.com, said millennials are expected to make up 45 percent of all people who take out mortgages in the U.S. this year. Hale counts millennials as people between 15 and 35 years old. Gen-Xers will account for 37 percent of new mortgages and baby boomers 17 percent. Hale’s advice to real estate brokers when it comes to millennials: “You’re going to have to figure out how to talk to them and interact with them and get them over the hurdle of getting into the housing market.” What are those challenges? Jasmine Pulce, a 28-year-old doctoral student at the University of Denver who closed on her first home in October, … [Read more...] about Denver housing market: Millennials face major hurdles to becoming home buyers
San Antonio’s office market still heavily favors the Northwest Side, figures show — but the center city is catching up. Workers, particularly millennials, increasingly want to live in an urban, walkable environment with plenty of nearby stores, restaurants and gyms. That’s forcing area employers to consider office space downtown if they want to attract top-tier talent, real estate analysts and brokers say. Those dynamics promise to bring downtown San Antonio into greater competition with the Northwest Side, historically the city’s hottest office market. A decade ago, “you would sit down with a San Antonio corporate user and say, ‘OK, what submarket do you want to be in?’” said Christi Griggs, first vice president at commercial real estate services firm CBRE. “And there was usually a very specific answer. It was, ‘I want to be Northwest where middle-income housing is. I want to be North Central where the airport is’ or … [Read more...] about Northwest Side still dominates San Antonio office market, but for how long?