Last week we talked about MA making the list of highest rents in the country, rivaling historically high CA rents. Gov. Healey has said for quite a while how much this state needs additional housing. Not just low income, but affordable housing for first time home buyers, middle income, tenants and more. MA is well supplied with McMansions and other Luxury Housing. This housing bill is expensive but could bring real results for those just starting out, those looking to downsize, people who want to age in place and more. The bill, now law, is so wide reaching, I’d need posts for months to describe it all.
Check out this article for more details: https://bostonagentmagazine.com/2024/08/07/gov-healey-signs-5-1b-affordable-homes-act-into-law/?
Standardizing and broadening the regs pertaining to accessory dwelling units(small dwellings on the same property as a larger home, in-law units, etc. will allow seniors to stay on or in their property in style and free up rental units for others. 1st time homebuyer assistance will get many buyers that were pushed out back in the market again and free up rental units. All these people now buying will help lower the pressure of skyrocketing housing prices and equally rising rent pricing as more buyers CAN enter the market. It elegantly kills 2 birds with one stone.
There’s so much more in this bill to cover. You can research it yourself or ask an expert. Most Realtors, like me, don’t charge consulting fees. Questions Answered For Free. How often do you see that? Call, text or email me, one of my co-workers at Brook or your favorite Realtor of choice. If you’re a buyer, a renter, someone who wants to age in place and so many more situations, this bill, now law, will make your life easier once it’s implemented. Keep in mind, It’s brand-spankin’ new and absolutely gigantic, so whoever you ask might have to research a bit to dig up your answers…. Still Free From Me.
Have Fun!!!
Lew McConkey,
Brook Realty, Serving Whitman Hanson & Surrounding Towns
(781)252-9789
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