Boston Real Estate Outlook

[Vincent D'Amato]

Hello BP!

For the folks who invest in the Northeast, more specifically Boston, how do you feel about the outlook for 2021? Do you expect any dip in the prices of multis or apartments? 

My theory is people are looking to move outside of cities to an area of more space and less restriction. I also feel that with more people working remotely, corporations will downsize their expensive downtown Boston offices. 

Let me know your thoughts!

Vin

[Brendon Kerrigan]

@Vincent D'Amato Thats an interesting topic and I was having a conversation with a family friend who was preparing to put up a 75 unit apartment building in East Boston early this year and he stopped all his movement on it.  He was asking me questions about my work situation and what my company (large technology firm) was doing for office space and what my colleagues were doing for living.  I do think people are moving out of the traditional southie/dorchester/eastie areas but there was such high demand before that vacancy may not be a huge issue but rents are likely down.  I personally don't own any property there but I think we may see a small decline and then when things begin to normalize, an upwards motion back to where we were.  When all this will happen is the multi-million dollar question.

Best of luck!