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Boston Building Permits Skyrocket; Brokers, Owners' Optimism

BOSTON—Yup, there's a building boom on: "The city of Boston issued 140 permits for residential projects ranging from single- to four-family homes in the first eight months of a year, according to the U.S. Census Bureau, up from 37 for the same period last year. That's a nearly four-fold permit increase and the highest number since 2007." [Biz Journal]
HUB-WIDE—A new survey shows both brokers and homeowners optimistic about the housing market. But are they seeing things through rose-colored glasses? "The debt and now economic crisis in Europe and the looming 'fiscal cliff' in Washington should raise questions as to whether this growing optimism about home prices is grounded in reality or wishful thinking. Massachusetts and its innovation driven economy are particularly vulnerable to both draconian budget cuts in Washington and growing economic trouble overseas..." []