For months, we’ve been hearing that investors are hesitant to back new residential development in Massachusetts because of the statewide rent control ballot question.
In a Boston Globe column last week, one major institutional investor, who manages billions on behalf of union pension funds, put it bluntly:
“If you want to kill housing production, put rent control in place — and you’ll lose investors like me who will go somewhere else.”
These are the people who finance new housing — and they can deploy their capital anywhere in the country. When they hit the brakes on Massachusetts, it means fewer new homes, fewer construction jobs, and fewer opportunities for our communities.
We all agree that housing is too expensive. But if we care about building and preserving the homes Massachusetts needs, we can’t afford policies that scare away the very capital required to get shovels in the ground.
If you’re in real estate, construction, or business leadership in Massachusetts, what are you hearing from lenders and investors about this ballot question?
Join the conversation on LinkedIn.
