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The Boston Globe - Boston's New Luxury Towers appear to House Few Bostonians

The Boston Globe  Boston039s New Luxury Towers appear to House Few Bostonians

Boston City Councilor Lydia Edwards held a hearing in April to consider taxes on speculative or vacant high-end housing and is planning more discussions on the topic this fall. She said it’s clear the flood of high-end housing isn’t helping the many residents who can’t afford rents, which can easily top $2,000 for a one-bedroom unit.

“This is not your father’s housing market, and so when we approach housing policy for average Bostonians we can’t simply treat it as though what we’ve been doing is going to continue to work,” Edwards said. “Right now we’re building portfolios for the super-rich, rather than places for Bostonians to live.”

updated: 10 months ago