How neighborhood changes can drive real estate prices
Is the Green Line extension to Union Sq and to Medford a boon for real estate prices. With prices depressed from their peaks and the green line extension a go, is this a prime buying opp?
See excel document: medford median prices sinec 2000 (on computer at side wall)
Other examples - compare davis sq prices before and after
SOWA - pre/post silver line
These are examples of changes to a "filled in" neighborhood, not one built from scratch (like a subdivision) or northpoint, for example. Lots of redevelopment causes some friction with "old timers" but generally leads to better results and better opportunities.
What really drives RE prices? jobs, interest rates, economic development, structural development, transportations development??
Smart transit oriented growth is the way of the future. Get on board or go somewhere else. High density is green. public transport is green.
http://www.boston.com/news/local/massachusetts/articles/2009/04/13/green_line_pop/
