Boston will get more expensive over the next 5 years
A new report says that home prices in the Hub are expected to increase 29 percent over the next five years.
Just a few days ago Boston started off the New Year being ranked as the city with the fourth highest rents in the country.
Now there is bad news for those looking to buy in Boston as well.
The Boston Globe reported that Standard & Poor’s, a financial services company, estimates home values in Boston will rise 29 percent over the next five years.
According to the Globe:
“That 29 percent jump assumes things more or less continue apace. If the economy performs better than expected, home prices could increase even more—as much as 55 percent, S&P predicts. Bully for homeowners, though not so much for those looking to buy.’’
Despite this prediction, the Globe reported that Boston is a very low-risk market, meaning that even if there were another recession, home prices would still continue to increase.
Read the full Boston Globe story here.
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