| Yours is a pretty weird description of the current real estate market here in Somerville. It's a pretty even mix of owners and renters (about 40%/60% last I checked). Because of all the factors in the article, huge amounts of money are flowing in and they're being spent on upgrading the housing stock. Far from "shitty and falling apart", you see gleaming post-restoration projects everywhere, at astronomical prices. Maybe I'm biased toward the west end of the city because I live there and the gentrification is furthest along here. But "it's extremely expensive" and "no one likes it" are really not compatible statements. The market remains extremely hot, and it's being fed by people with money who want to buy and live here, not absentee landlords. There are still some of those, but it's a shrinking group because the overwhelming financial incentive is to gut-renovate and sell as condos. As for increasing the density, I'm all for it, but it's worth pointing out Somerville is already the densest city in New England. Denser than Boston proper, despite all Boston's own high rises. You don't find a denser city until you get to NYC. People underestimate how effectively you can pack a city even at three-to-five stories tall, if you actually stick to that height _everywhere_. We were lucky to be built in the streetcar era, and then ignored through the incredibly-dumb architectural trends of the second half of the 20th century. If the rest of Greater Boston was merely as dense as Somerville there would be no housing shortage. My favorite strategy for getting higher density here is killing all the parking lots, along with simply getting our transit system back to the scope and quality it had in 1930, with streetcar lines all over the place. |
I don't know much about the situation, but these are easily compatible statements. People might be trying to live where their job is or near the city they like or grew up in. Quality of the building you are living in is usually not the #1 concern.