Even if it is the Era of the Shovel in Boston, the city is clearly not building enough housing to keep up with demand. This ceaseless dearth buoys Boston's often cartoonishly high rents and freakish sales prices; and just generally assures that the city's downtown remains the bastion of ambling empty-nesters and people who can show up to open houses with garbage bags full of cash.
The above was passed along to us by a reader via the always-discreet Curbed Boston Tipline. We'd seen the Wall Street Journal article a few days ago but had not noticed the chart. There it is in stark relief: how many new residential units select cities are authorizing. The article is specifically about New York's own slow pace, but you can see that Gotham was aflame with cranes much of the last decade; Boston not so much.
· Residential Construction in New York City Lags [WSJ]
· Four Developments Rocking Boston's World Right Now [Curbed Boston]
· To the Victor Go the Spoils: What's Left at Swank Boston Tower [Curbed Boston]
· Here's the Fate of One of Boston's Cheapest Condos [Curbed Boston]
· Downtown Boston Is Just One Big Empty Nest [Curbed Boston]
· Further Proof the Hub's One Big Condo-Bidding Warzone [Curbed Boston]