The collapsing downtown condo market

By adamg on Wed, 09/09/2009 - 12:27pm

Scott Van Vorhis writes the luxo-condo bubble downtown has finally popped.

Neighborhoods:

Downtown

Free tagging:

housing prices

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Comments

It seems like everything is

By anon on Wed, 09/09/2009 - 12:48pm.

It seems like everything is moving out to JP--and maybe other outer Boston neighborhoods too? I noticed that AIDS Action is moving to Amory, El Centro is moving to South Street, a ton of the nightlife that used to be downtown (or is now so tired no one bothers with it) is moving to places like the Brewery and Alchemist. Is it a good thing that the center is breaking down?

Whit

Is that legit, tho?

By Jay Levitt on Wed, 09/09/2009 - 2:30pm.

I can't see the original report, but didn't 45 Province just get occupancy recently? Presumably, a bunch of contracts closed on or before that date, which would skew numbers...

In 2 years

By Kaz on Wed, 09/09/2009 - 3:30pm.

I look forward to my 3,000 sq ft, luxury apartment with a parking garage, indoor pool, doorman, and bay view...all for $250,000 in 2 years.

I'll start saving now.

Oh the Media

By Erica on Thu, 09/10/2009 - 11:40am.

Since the economy has been a disaster, the real estate industry has been a major target for the media. Granted, a lot of problems with the mortgage industry etc. are intertwined, but it really is not always as bad as they portray it to be. The comment above is right, the stats are skewed because 45 Province did just recently obtain occupancy so that fact alone shows you that what you read in the newspapers, always will have a spin targeted to show the real estate industry in the bad light. As opposed to other cities in the country, Boston sales are still doing very well.