why is the northeast market recovering so slowly/?

Question

seems like the rest of the USA real estate market has recovered but the northeast is still way behind. whats going on

Russell Brazil · Answer

I wouldnt say the recovery is slow at all. Large, desireable metro areas with high incomes like Boston have exceeded peak levels, and other areas have not. I would say that is probably the case in much of the country. I live in a suburb of DC, and while DC may have also exceeded peak levels, most of the suburbs have not. It is simple function of demand in the market place. Places with high demand get pushed up in price, areas with less demand dont.

Flavio Zanetti · Answer

One word: demand and speculation are driving prices In Boston area and they are already past peak values of 2005/2006...

Some studies suggest that there is a deficit of 42,000 apartments so you can imagine how difficult it is right now for one to purchase anything here!

why is the northeast market recovering so slowly/?

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