Boston Rental Market Cools, Leaving Landlord’s “Willing to do Anything.”
Young people across the US are hunkering in place, staying with roommates or in childhood bedrooms because job insecurity breeds caution. Photographer: David L. Ryan/The Boston Globe/Getty Images
Boston real estate agent Jax Crerar is telling landlords to cut rents - fast.
It’s a heel turn for a city that has for years seen cutthroat competition among renters, thanks to its robust biotechnology industry and a dense network of elite universities. But now, deep cuts to research funding, a cooling biotech market and the loss of residents to other states are crimping tenant demand.
Apartments in even the most desirable neighborhoods are sitting empty.
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