Center for Real Estate

Prof. Albert Saiz speaks with Boston Globe reporter Andrew Brinker about the economics of homebuying and why the Massachusetts homebuying market is so challenging. “The gap between what people make and what homes cost is completely outrageous,” says Saiz. “And this data does not even represent the situation for working-class families who are making minimum wage. A large portion of the state’s population cannot afford to buy a home here, which is not how a housing market is supposed to function.”

Diane Hoskins '79, a member of the MIT Corporation, has been named a CNBC Changemaker for her impact on the business world, reports Ian Thomas for CNBC. “Over her more than three-decade career at Gensler, she has risen up the firm’s ranks to now serve as its global co-chair alongside Andy Cohen, who Hoskins shares long-term strategy and day-to-day operations with and previously served as co-CEO with for nearly two decades,” writes Thomas. “Hoskins has also been at the center of the discussion around how workspace design intersects with employee performance and engagement, overseeing Gensler’s Workplace Survey and influencing how the industry at large designs offices and other spaces.” 

Mayor Michelle Wu has named Prof. Kairos Shen as Boston’s new city planning chief, reports Kelly Garrity for Politico. “Shen previously served as city planner under the late Mayor Tom Menino, and touts more than two decades of experience at the Boston Redevelopment Authority on his resume,” explains Garrity. 

Mayor Michelle Wu has named Prof. Kairos Shen as Boston’s new Chief of Planning, reports Boston Herald. “I’m thrilled to welcome Kairos into leadership of Boston’s Planning Department and all the critical functions shaping the built environment for affordability, equity, and resilience,” says Wu. “As a longtime friend and advisor, Kairos brings an unparalleled knowledge and expertise of this work and our communities.”

Prof. Kairos Shen has been named Boston’s new Chief of Planning, reports Jon Chesto for The Boston Globe. Shen, who previously served as Boston’s top city planner for two decades, “brings tremendous design expertise and a deep understanding of Boston’s distinct neighborhoods and factions,” writes Chesto. “I love the city and I spent many years serving it,” says Shen of his appointment. “I think being able to be more reflective and having experience outside of City Hall and looking at cities all over the world, I hope I can bring [a] kind of greater wisdom that I didn’t have when I left City Hall.”

Prof. Nathaniel Hendren and Prof. Justin Steil speak with New York Times reporter Jason DeParle about the difficulty in building affordable housing in opportunity-rich neighborhoods. “A lot has changed in American life over the past 50 years, but the hostility to affordable housing has remained surprisingly durable,” Steil explains. “Where you grow up matters a great deal for shaping your life outcomes,” Hendren adds.

Prof. Albert Saiz speaks with Washington Post reporter Andrew Van Dam about the influence of geographical regions in politics. “High-amenity areas are more desirable and tend to attract the highly skilled,” says Saiz. “These metros tend to have harder land constraints to start with, which begets more expensive housing prices which, in turn, activate more NIMBY activism to protect that wealth.”

Researchers from MIT and elsewhere have found that new building codes put in place to combat climate change could impact home affordability in the greater Boston area, reports Paula Ebben for CBS Boston, “If widely adopted, [the codes] could add up to $23,000 to the cost of an average home, leaving an additional 33,000 Massachusetts residents priced out of the market,” writes Ebben.

A study from MIT and elsewhere has found that a new building code in Massachusetts designed to promote “net zero” development, “would increase construction costs and potentially worsen the state’s housing crisis,” reports Greg Ryan for NBC Boston.

Prof. Albert Saiz discusses how older Americans are impacting the real estate market in the Greater Boston area. “There’s a mismatch now,” saysSaiz. “As people age in place, these households tend to be two people or sometimes one person in maybe a three- or four-bedroom home. Since they’re not downsizing as we expected, we have a huge, huge need for bigger homes to host younger families.”

A new study conducted by Prof. Albert Saiz and his colleagues has found “for housing access to improve in Mexico, financial support such as mortgages or subsidies, along with greater buy-in from local governments and the private sector, is key,” writes Kylie Madry for Reuters.

A new study by Prof. Albert Saiz has found that Mexican housing must become denser and better planned in order to provide adequate living options to lower-income parts of the population, reports Kylie Madry for Reuters. “According to Saiz, the prevalence of self-built, one-family homes is a bigger problem than growing numbers of ‘digital nomads’ – remote workers living in Mexico but earning disproportionately large salaries from abroad – which have been the focus of criticism since the coronavirus pandemic took many jobs online,” writes Madry.

Using machine learning techniques, MIT researchers analyzed social media sentiment around the world during the early days of the Covid-19 pandemic and found that the “pandemic precipitated a dramatic drop in happiness,” reports Charlotte Hu for Popular Science. “We wanted to do this global study to compare different countries because they were hit by the pandemic at different times,” explains Prof. Siqi Zheng, “and they have different cultures, different political systems, and different healthcare systems.”

Bloomberg reporter Chris Anstey spotlights a new study by MIT researchers that finds that during the Covid-19 pandemic people have been taking cues from their neighbors as to whether it is safe to resume social activities like dining in restaurants. “We felt that in [some] uncertain times, such information might be particularly valuable,” said Prof. Siqi Zheng. “If others think it’s safe to go out, then maybe I should feel safe. To be sure, we were also prepared for the opposite reaction, that people would hunker down and try to avoid crowds.”

Politco reporter Catherine Boudreau explores a study by researchers from MIT’s Real Estate Innovation Lab offers suggestions on how people can reduce their carbon footprints when shopping. “My biggest takeaway is to be a more mindful consumer. Try not to get in the car to go shop. If you do, make it a big shopping trip to avoid multiple trips. Walking and biking always wins,” explains research scientist Andrea Chegut.