Boston Is One Out Of Five Bubble Proof Markets
February 3, 2008 | Filed Under Real Estate News, Boston Real Estate
CNN Money reported that Boston, along with New York City, San Fransisco, Los Angeles and Seattle is a “Bubble Proof” market.
“Boston had the strongest wage growth of these cities through the tech bust and jobless recovery. Over the next five years, it will have the highest per capita income, next to San Francisco.”
Source: Business 2.0
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The link is to a story published in 2006 by CNN. While the fundamentals are essentially the same, the story itself should reflect the 2007-8 market.
This furthers the long term argument that we have had that city centers are a different market than “pan US” housing. There’s various pieces of information out there, but it is always nice to hear bolstering information such as this. City center condo prices in Boston appreciated approximately 6% in 2007, again, signifying there is a clear difference in core downtown areas versus that of suburbs.