From: Bentley Real Estate Group Date: October 21, 2024 Subject: BREG Weekly Newsletter - 10/21/24
Top Real Estate Organizations in Boston for Students
Looking to expand your real estate knowledge and build a stronger professional network? We've compiled a list of top real estate organizations in the Boston area that offer memberships, networking events, and educational opportunities specifically for students and early-career professionals.
Greater Boston Real Estate Board (GBREB)
GBREB is an umbrella organization for real estate professionals in the Boston area. It includes divisions like BOMA Boston, REFA, and CBA, offering networking events, professional development, and advocacy for commercial and residential real estate professionals. (Learn more)
Boston Society of Architects (BSA)
BSA offers opportunities for those interested in real estate development, urban planning, and architecture. Through educational programs and events, it helps members explore the intersection of design and real estate. (Learn more)
Urban Land Institute (ULI Boston/New England)
ULI Boston provides educational programs and networking events for professionals in real estate development and urban planning. Their Young Leaders Group is especially useful for students seeking to connect with industry leaders. (Learn More)
Commercial Brokers Association (CBA Boston)
CBA Boston represents brokers working in the commercial real estate space. It offers members market data, educational events, and networking opportunities, helping students gain insights into commercial real estate. (Learn More)
NAIOP Massachusetts
This chapter of NAIOP focuses on industrial, office, and mixed-use properties. It's a great resource for students interested in development, with networking events, advocacy efforts, and educational programming. (Learn more)
Building Owners and Managers Association (BOMA Boston)
BOMA Boston offers training, certifications, and networking for commercial property managers and owners. Members gain access to property tours and market insights in Boston's dynamic real estate landscape. (Learn More)
Latest Stories
Weekly Mortgage Demand Drops 17% Amid Rising Rates
Mortgage applications fell 17% in a single week as interest rates surged to their highest levels since August 2024. Homebuyers are increasingly priced out due to high borrowing costs, pushing affordability further out of reach. Refinancing activity also remains low, with homeowners hesitant to trade in existing low-rate mortgages for new loans at higher rates. (Learn More)
Trump’s Deportation Vows Could Drive Up Building Costs, Say Builders
Former President Donald Trump’s pledge to deport millions of undocumented immigrants could severely impact the construction industry. Builders warn that labor shortages would worsen if immigration policies tightened, leading to higher costs and delays in housing projects. The construction sector, heavily reliant on immigrant labor, could see wage inflation and disruptions in meeting housing demand. (Learn More)
Builders Offer Incentives to Offset High Mortgage Costs
Homebuilders are offering financial incentives, such as mortgage rate buy-downs and cash rebates, to attract buyers struggling with high mortgage rates. With fewer buyers able to afford homes, builders are trying to ease financing challenges to move inventory. These measures aim to close the affordability gap, but high borrowing costs remain a significant obstacle for the housing market. (Learn More)
Key Terms and Concepts:
Mortgage Applications: The number of requests for new home loans or refinances. Declining applications indicate decreased buyer activity in the housing market.
Interest Rates: The cost of borrowing money, which significantly impacts mortgage payments. Higher rates increase the total cost of buying a home.
Labor Shortages: A lack of available workers, particularly in industries like construction, can drive up wages and lead to higher project costs.
Mortgage Rate Buy-Down: A strategy where builders or sellers pay to reduce the interest rate on a buyer's loan for the first few years, making initial payments more affordable.
Upcoming Events:
October 30 - BREG's Networking Night (7:00pm @ LaCava 325ABC)