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          Million-Dollar Teardowns

          Boston Business Journal

          Mark WilliamsbyMark Williams
          March 2, 2023
          in Local Media
          17
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          Million-Dollar Teardowns

          February 23, 2023

          The Boston Business Journal recently published an article where Mark Williams, Master Lecturer of Finance discusses the prevalence of Boston home teardowns in Wellesley, Massachusetts.

          There is a debate over whether these teardowns are making wealthy neighborhoods even wealthier, and driving middle- and low-income households out of the area, or whether they are making neighborhoods more desirable to homeowners. Boston itself, as well as residential areas outside the city, have been transformed by the teardowns. These homes have also been purchased by developers and investors with different motives than by families.

          Williams adds that, “If they’re competing to get the next ranch, they’re paying more with the idea that they’re just going to flip it.”

          As many LLCs invest in the market and flip these homes, the prices skyrocket, increasing the wealth in these neighborhoods and bringing affluent residents to the area.

          Source: Million-Dollar Teardowns
          Via: Boston Business Journal
          Tags: BBJBoston Business JournalMark Williamsmedia mentionresidential real estate
          Share2Tweet1ShareShareSend
          Mark Williams

          Mark Williams

          Mark T. Williams, Master Lecturer in Finance, is a risk-management practitioner, academic and financial author with three decades of experience. Current focus areas include Fed monetary policy, financial literacy, financial inclusion and Fintech, together with virtual currencies and blockchain. He also serves as President of the Boston Economic Club.

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