GUEST COLUMN: How to Make Cambridge landlords even richer

By Barry Bluestone

July of this year marked an important milestone for all of metro Boston. It was the first time that the median selling price of a single-family residence equaled the price that prevailed in 2005 before the Great Recession and the bursting of the housing bubble. But of the 161 communities in the region, Cambridge stood out as the champion. It was No. 1 in price appreciation. The typical home sold for double what it would have 10 years ago. No other community experienced a price explosion like that. Indeed, a single unit in a classic triple-decker appreciated even faster, nearly doubling in just six years.

Why? The answer is actually pretty simple. Because it is such an attractive community for both young people and businesses offering lots of jobs, the population of our city has soared. Between 2000 and 2010, it grew by about 3,800. In the following four years alone, it increased by another 4,500, according to the U.S. Census. More than 60 percent of these newcomers are young millennials – those between 20 and 34 years old.

Read the full column here.

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