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New Report: Rent Control Would Cut Housing Supply, Lower Values & Tax Revenue in Boston, Across Massachusetts

A new analysis shows rent control proposals would drastically reduce the supply of apartments, property values and tax revenue in Boston and throughout Massachusetts if the Legislature rescinds the voter-approved ban on the policy.

The new NAA reports analyze the impact if a 3% annual cap on apartment rents is implemented in Boston or across the state, as proposed in current legislation. Among the key findings:
● New apartment supply will drop by more than 700 units per year;
●  Apartment property values will drop by more than $260 million; and
●  Property tax revenue to the City of Boston will drop by more than $2 million annually.

Across Massachusetts, the negative outcomes increase exponentially:
● Impacts 40%, or more than 18,000 units of foregone new housing stock and existing units potentially lost due to infeasible repairs and upgrades of existing stock;
● Apartment property values drop by more than $820 million; and
Property tax revenue to cities and towns will drop by more than $7 million annually.

The reports further notes that, in Boston, apartments and their residents contribute more than $54 billion to the regional economy annually, and support more than 228,000 jobs. Throughout the state, apartments and their residents contribute more than $60 billion to the Massachusetts economy each year, and support more than 268,000 jobs. But if a 3% annual cap on apartment rents is implemented, both the economic strength and massive workforce created by the apartment industry would come under serious threat.

IMPACTS OF RENT CONTROL: MASSACHUSETTS
IMPACTS OF RENT CONTROL: BOSTON

New Rent Control Report
CBA March News and Event Update

Become a CBA Member!

 

15 for 12 Membership Promotion:

Join CBA today for 2021 and receive the rest of this year for free!

 

 

Here are just a few of the benefits associated with your membership:

 

Advocacy: Through the Greater Boston Real Estate Board’s Advocacy Group, CBA represents members’ interests on the city, state, and national level. Click here to view our Government Affairs page.

 

CBA Achievement Awards: CBA members receive peer recognition through our annual Achievement Awards. Your peers elect and vote for recipients of Broker of the Year, Landlord of the Year and Rising Star. Deals of the Year are nominated and judged by a panel of industry experts and include Office Deal of the Year (Downtown and Suburban), Industrial Deal of the Year, Investment Sale of the Year, Retail Deal of the Year (Sale and Lease) and Life Science Deal of the Year. This year's Awards were held virtually on September 24th. Click Here to see the winners!

 

Education: CBA holds various programs throughout the year featuring keynote presentations and panel discussions featuring some of the industry’s most prominent leaders. All of our educational events are now being held as webinars due to gathering restrictions from COVID-19. To learn more, click here to view our events calendar. If you have any interest or questions in upcoming events, feel free to contact me directly!

 

Social Media: We are also active on Social Media – Now that you’re a member, join our LinkedIn Group and follow us on Twitter.

 

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Questions about membership? Email Alex Levine at .


15 for 12 CBA Membership Promotion

CBA Tour Protocols: Broker Best Practices & Recommendations

CBA has developed a set of guidelines to ensure a safe tour process to protect the well-being of the brokers, clients and owners. These recommendations are encouraged to be followed during the re-entry process. 

Click Here to access the full guidelines.




CBA Broker Protocols
 

Events

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Event
CBA Achievement Awards
Mar 24, 2022
InterContinental Boston

Calendar

Event
CBA Achievement Awards
InterContinental Boston
5:30pm