Boston is long known for being a very traditional and owner occupied city. Unlike the Las Vegas’s, the Miami’s and other booming ‘investor oriented’ real estate markets, Boston’s housing pricing is just kind of go with the flow…not explode 200% in 3 years. Well, as much as all of us condo owners would have loved to experience that increase, we certainly are greatful to not see that bailing out decrease those markets are seeing today.
CNN put the Boston Condo market in their top Bubble Proof Markets category…and I am going to have to agree with the Press for once!
Average annual home price appreciation (1949-2006)*:
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.
Other Top Bubble Proof Markets:
2. Los Angeles