A recent study by the independent market research company, Braun Research, showed that Bostonians delay buying their first home at a much higher rate than the national average. A number of factors, such as waiting for marriage and children, led to their postponement. The report also explored other notable attitudes and behaviors among millennial buyers that influenced their buying patterns.
The study was sponsored by Bank of America. With approximately 47 million customers nationwide, it has an obvious interest in knowing why and how area residents purchase homes. Like other banks, BofA uses report statistics to modify their mortgage programs to reflect current population trends.
BOSTON – For three years, the dilapidated city-owned Winthrop Square garage in Boston's Financial District has sat vacant, nearly a decade after it was designated as a site for a new skyscraper by City Hall.
When the Boston Redevelopment Authority closed the garage, ostensibly for engineering reviews, it took the best parking deal downtown away from long-suffering Hub commuters who paid just $20 a day for one of its 435 spaces. Only a few years earlier, it was even cheaper – and this in a neighborhood where the average daily rate was close to $40 even in 2013.
