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Description: University of Washington professor claims government regulations accounted for 99% of increase in Boston housing prices between 1989 and 2006
URL: http://www.boston.com/realestate/news/blogs/renow/2008/02/regulating_home.html
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=1477

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[Dorchester Grandma]

New housing units are usually way overpriced except for a few units, reserved for lower income people. These units are usually less attractive than units which are full price. The Carruth, abutting Ashmont Station boasts units starting in the low $300s, still out of reach for so many Dorchester residents. Expect a few affordable housing units on lower floors overlooking the sidewalk and heavily trafficked Dorchester Ave, complete with rush hour diesel fumes to be set aside for lower income people.

Buildings which are entirely made up of lower income people will be thrown together using inferior materials and maybe located on a major highway or next to a truck yard.

More new construction is clearly not the answer. The current housing market meltdown happening in part because buyers are getting smart refusing to pay exorbitant prices will be the real answer to lack of affordable homes in Boston

[admin]

I find the professor's conclusions hard to believe simply because the timing of the spike in prices isn't unique to Boston. The price spike happened nationally, but zoning is local. On the other hand, I may be missing some important aspect of his argument since I only read the Globe's summary rather than the study itself.

- admin