DownIsTheNewUp
Well-Known Member
In MA we saw a record number of people exiting the state last year. Of people who moved last year, 57% of them moved out of state. Massachusetts had the 7th largest population decline last year of all states.
The record lose of population is attributed to higher living and housing costs according to a survey.
What I don't understand is, with our population declining and people moving out of state, why are we facing a larger housing crisis each year. You would think more housing would be on the market. I get the low income housing for sure is a problem. But all the property management companies keep raising prices due to supply and demand, and bidding wars are still happening on house sales. Massachusetts was one of the few states that never saw a decline in property values when interest rates went up. Prices continued to increase because demand still exceeds inventory.
Supply issues, people locked into mortgages, zoning laws, investment firms swallowing up existing inventory. There are 4m too few units on the market.
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