When it comes to housing prices, we are fighting a regional battle. There’s lot of factors beyond any one entity’s control causing this effect. Yet the solution is we have to act locally and think regionally.
From the linked article below – “Those land prices will be built into rents for years to come. The only way to bring them down, Bluestone and others say, is to open up more land. That means rezoning parcels — particularly in suburban towns — to allow more multifamily housing.”
This is exactly what we’re trying to accomplish with an updated zoning ordinance for Somerville, and what others are hoping to unlock by updating the state zoning regulations. This is bigger than just a Somerville problem, but we can lead the way in tackling it.