alt Hacker NewsBoston is seeing some headwind especially from slowdown in biotech, the main driver of growth over the past decade or so. Rents are also down. However, worth noting supply is still constrained especially if you exclude replacement-ready homes.
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Yep. Recently tried to sell my 2BR/2BA in Boston. Exactly 2 people visited over 3 months and several open houses and price cuts. Realtor said it's the same across the board for 2BR/2BA because the pool of entry-level buyers dried up with layoffs.
After I switched it over to a rental listing I was able to rent it out within 3 days at a significant profit. Another unit in my building rented similarly fast at a similar price. I know it's just anecdata, but it doesn't feel like the rental market is cooling down at all.
Can confirm, this is where I’ve spent four years trying to buy a starter (2BR/2BA) home in on a single income. The biggest problem in older markets is that most housing stock is of appalling quality, requiring another five to six figures of work to get into a modern, habitable shape - unless you do the work yourself, which most can’t while they also hold down a FTE gig and deal with the return of urban commuting.
It’s bad.