Supply & Demand vs. Older Homes
According to a study by NAHB, National Association of Home Builders, the nation's residential housing inventory is getting older and new-home construction is falling behind the current demand rate.
The NAHB says this could add up to a severe housing shortage and there is a growing concern that older homes do not meet current safety and energy standards. In NAHBs, Eye on Housing blog, Laurie Goodman of the Urban Institute estimated that the supply of new homes in 2017 fell about 350,000 short of the number needed to meet demand allowing older homes to stay on the market longer.
Only 6 of every 1,000 homes built prior to 1970 are removed from the housing stock each year, according to the NAHB report. “In the long run, loss rates as small as this are not sustainable, of course, as that would imply half of new homes built in some regions last 1,000 years,” NAHB notes in the post. “But in the medium term, it may be possible to keep removal and production rates as low as they are right now.”
Older Homes May Not Pass New Standards...
Getting started with The Home Buying Process With Chubb Realty
When it comes to selling a home in the Boston area, you need to find a home that will meet your needs.
While buying a home is stressful it is important to work with a REALTOR that makes the process as smooth as possible for you and your family.
Ask Yourself A Few Questions
- Where Do You Want to Live?
- What Kind of Home Do You Need?
- How Much Space Do You Need, or Which features?
- What is Your Determined Price Range?
Why Buy With Chubb Realty Group?
With Chubb Realty Group in Quincy, you'll find a realty dream team that has years of experience selling homes and serving both home buyers and sellers...
LUXURY DREAM HOME NEIGHBORHOODS IN BOSTON
Whether homebuyers are moving to Boston because of a job transfer, or they are a second generation inhabitant, luxury home shopping begins with knowing where to look.
There are 23 established neighborhoods across the city. These areas break down into over 80 communities around Boston. We give you an overview of six of the grandest places to find your Boston dream home below.
This community is a historic destination. The entire area is full of vintage homes and shops where residents can spend the afternoon window shopping or sipping a glass of tea with a friend. From high-end hotels to the Public Garden and the waterfront Esplanade, this portion of the city has unique experiences and innovative events.
Visitors will recognize the area immediately upon seeing the Prudential Center, the Boston Public Library, and the John Hancock Tower. Rows of Victorian homes line the city streets of Copley Square, Newbury Street, and the Commonwealth Avenue Mall area of Back Bay.
This neighborhood is another historic area in Boston. The two primary areas are the Massachusetts State House grounds and Louisburg Square. The old Colonial space is west of the city center. Most businesses and events are on...