Boston being a major metropolitan its no surprise 2019 – 2020 will result in more job opportunities for the workforce. The main concern is housing is not growing nearly as rapidly.
According to Curbed Boston, the city increased its jobs to “5.8 jobs per 1,000 residents, meaning that 2.5 were added for every new housing unit in the Boston region.”
From a real estate perspective, it’s become somewhat of a nightmare for locals. Rents continue to rise due, “too many residents for the existing housing supply.”
The good news for current home owners is as housing supply continues to fall behind, property values will continue to rise in Boston and surrounding areas. Looks like we have to wait to see if more new construction housing will pop up in 2020 and help with the housing shortfall.
Acitelli, Tom. “Boston Region Adding Jobs Much Faster than Housing, Report Says.” Curbed Boston, Curbed Boston, 2 Aug. 2019, boston.curbed.com/2019/8/2/20751350/boston-region-jobs-housing.