In Boston, I have found it discouraging to buy a home with housing prices so high. Moving from Texas where it is much cheaper to buy real estate, I have found the difference is due to the lack of building any new housing. With plenty of space to grow by tearing down old buildings, the area maintains these high housing prices by burdensome zoning laws that prevent it. These laws maintain the status quo, and prevent any substantial building. These regulations are a hidden tax that keeps young people and new residents from owning real estate. Check out the cost of living difference on bankrate.com
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