A headline in the Boston Globe screams: "Boston's new luxury towers appear to house few local residents." The headline is based on a report by the leftist Institute for Policy Studies, which claims that in twelve Boston condo buildings, "64 percent do not claim a residential exemption, a clear … [Read more...]
The “Global Buyers” Argument
One common argument against building new market-rate housing is that there is an infinite supply of rich foreigners willing to soak up new supply. One obvious flaw in this argument is that housing prices do occasionally go down even in expensive places. But even leaving aside this reality, the … [Read more...]
