Boston Globe Real Estate Writer spills the beans on Real Estate. Our Podcast today talks about high rents, need for affordable homes, transfer taxes, rent control the middle class families have difficulty in the Boston area finding homes that are a good fit for them. Tim Logan, real estate writer, from The Boston Globe shares what he has covered in the past months on all these issues. Transfer tax is in front of the legislature this week. The idea is to charge a 1% transfer tax to both Buyers and Sellers. There are some towns in the Commonwealth looking at this for homes beginning at $400,000. This is a slippery slope. Once towns are reaping income from people who own homes and live in these towns they will, of course, jump from taxing some sales to taxing all sales.
To me this is unfair to home owners. Why tax approximately 60% of our citizens (those who own homes) and not all citizens. In this show we never answered what will be taxed or where new income will come from to help with this issue. We do need to consider fair options for all. It has been proven since the 70's that rent control does not work. When landlords, or builders have their ability to make a living by setting upward limits, they will choose other places to use their money.
The town of Brookline, MA has passed a directive. By an overwhelming vote of 207 to 3, members approved a bylaw that prohibits the installation of oil and gas heating systems in new construction beginning in 2021. The desire is to control the use of fossil fuels to assist with global environmental issues. This initiative is already being tested by the courts for it's legality. Should this pass the cost of building will be increased and it will work directly against the affordable home issue. Tim does a good job of explaining these issues to his readers. Take a listen to our conversation by clicking here. If you like the show, please subscribe. Boston Globe Real Estate Writer spills the beans on Real Estate