Upcoming Events

Event
Perspectives on CRE Valuation in an Uncertain Environment
101 Seaport Boulevard
12:00pm
 
2023 REFA Charitable Golf & Tennis Tournament
Dedham Country And Polo Club
10:00am
 
Emerging Leaders Summer Panel & Reception
1 Federal St.
4:00pm
 

New Report: The Impact of Rent Control Across America

A new analysis shows recently enacted rent control polices in cities across America hurt housing supply.

The new NAA reports interviews with housing providers and developers from three different markets impacted by rent control policies and proposals: St. Paul, Minn; Santa Ana/Santa Barbara; Calif; and Portland/Eugene, Ore. The interviewees ranged from large firms operating thousands of units and having properties across the country to small mom-and-pop businesses with a handful of units and, often, invested in real estate as part of a retirement plan or second source of income.

The housing provider research was supplemented with an online public opinion poll across the United States in February 2023. The poll questions focused on housing availability, residential construction and policy perspectives. Below are the key findings from the interviews and public opinion poll.

Rent control reduces investment and development:  Over 70% of housing providers say rent control impacts their investment and development plans; actions include reducing investments, shifting plans to other markets, and canceling plans altogether.

Rent control deters maintenance and improvements, pushing owners to sell: With rent control in effect, housing providers are faced with the difficult financial strain of absorbing essential maintenance costs and are forced to reduce investments in improvements and nonessential maintenance. As a result, 54% said they expect to or would consider selling some assets.


Rent control policies subsidize high-income residents: 
Nearly 60% of rental housing providers know of higher-income residents who benefit from these policies. Additionally, almost half of poll respondents incorrectly believe rent control only provides affordable housing to low- and moderate-income households.

The report concluded that while the notion of rent control policies may appear as an appealing solution to housing affordability, it is critical to acknowledge their potentially counterproductive and damaging consequences. Rent control has been proven to negatively impact renters, housing providers and even entire communities. This research shows that rent control policies can inadvertently lead to reduced housing supply, lower property values and decreased quality of available properties. Additionally, rent control disincentivizes new construction, which could exacerbate the housing affordability crisis

Click here to read the report.

Rent Control Policies Across America
GBREB NEWS

Boston Unveils Online Processes for Smoke/CO Detector Inspections

The Boston Fire Department has announced a new online application process for smoke and carbon monoxides detector inspections. Introduced in mid-February by the BFD’s Fire Prevention Division, the online application process now requires payments be made prior to an inspection being scheduled. Email notices will be issued once an application has been processed to alert applicants that payments may be accepted, as well as once the inspection has been scheduled to notify applicants of the inspection date. As in the past, inspections will be scheduled on a first-come, first-serve basis. For questions or concerns, contact the Boston Fire Dept. at [email protected] or call 617-343-3628.
Smoke and CO Inspection
New England Real Estate Journal - December 2022
New England Real Estate Journal - November 2022

 

 

 

THANK YOU FOR SUPPORTING THE 34TH ANNUAL REFA GALA!


Thank you to the 500+ members and friends who joined us on Thursday, October 6th, 2022 to support the 34th Annual REFA Gala! It was a wonderful evening honoring Paul Ayoub, Chair, Nutter with the Swain Distinguished Service Award!


Paul Ayoub
 Chair
Nutter


Visit our Annual REFA Gala website here.
View photos from the 2022 REFA Gala here.
Watch the full 2022 REFA Gala tribute video here.









Thank you to our Platinum Sponsors!




Thank You For Supporting the 34th Annual REFA Gala!
New England Real Estate Journal - October 2022
New England Real Estate Journal - September 2022
GBREB NEWS

GBREB Public Statement:  Proposed Boston Gas Ban

On August 16, 2022, Greg Vasil, CEO of the Greater Boston Real Estate Board, issued the following statement in response to Mayor Wu's move to seek to ban fossil fuels in the construction of new buildings in Boston: 

“While we share and admire Mayor Wu’s dedication to combatting climate change, we are deeply concerned by fully banning fossil fuels from new construction and the negative impacts such a blunt change will have on the critical need for housing production. Construction costs are already too high due to inflation and national supply chain challenges. Banning fossil fuels in new developments will only increase costs further. This ban would be especially problematic in a city like Boston, which produces huge levels of housing and is an economic engine for all development. Housing production is key to overcoming our state’s housing crisis. Instead of taking part in the state’s pilot program to ban fossil fuels in new developments, we believe the city and state should await the results of the pilot program before considering if and how Boston may implement this ban.”

GBREB Public Statement: Proposed Boston Gas Ban
New England Real Estate Journal - August 2022
New England Real Estate Journal - July 2022
New England Real Estate Journal - June 2022
New England Real Estate Journal - May 2022

Upcoming Events

Event
Perspectives on CRE Valuation in an Uncertain Environment
101 Seaport Boulevard
12:00pm
 
2023 REFA Charitable Golf & Tennis Tournament
Dedham Country And Polo Club
10:00am
 
Emerging Leaders Summer Panel & Reception
1 Federal St.
4:00pm