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| Experts Agree -- No Real-Estate Bubble in Massachusetts The panel of experts included Barry Bluestone (Director of the Center for Urban & Regional Policy at Northeastern University), Dan Green (The Principal and VP at The Green Company), and Aaron Gornstein (Executive Director at Citizens Housing & Planning Association) had taken part in a discussion entitled “Affording the American Dream” sponsored by WBZ NewsRadio 1030. Many believe that current Real-Estate market will “burst” due to too much supply, however the experts agree that no such bubble exists and only a softening in Real-Estate prices will occur with an expected growth of 3-4% a year. Current Massachusetts Zoning Laws, Building Permit Regulations, Increased Land and Material Cost Pressures to the developers, as well as Physical Location and History of Boston have all aided in preventing over development of Massachusetts. The panel did agree that Massachusetts is in short supply of affordable housing and the same factors are to blame. However, Massachusetts is on the right track with recent passing and adoption by some communities of Zoning Bill 40R and a hopeful passing of Smart Growth Locations Bill 40S which will assist our state in creation of more affordable housing while maintaining our population, attracting business and employers. write your comments about the article :: © 2005 Construction News :: home page |