As the market moves forward we expect to see the burgeoning cohort of Baby Boomers to be a big part of the demand for urban style living, specifically condominiums.  They will either remain in their homes or downsize locally while Echo Boomers begin forming households.  Across the U.S., local markets will revive at different rates, affected by the range of price fluctuation during the boom, the excess inventory due to speculation, overbuilding or foreclosures, and the rate of job growth.  An extended period of job growth could stimulate renewed confidence in homeownership and with inventories of new construction at historic lows tighter markets may result nationally as low interest rates and weak prices have made homes more affordable than they have been for decades. 

Locally in Boston, unemployment is lower than the national average and there are no new condominium developments under-construction in Downtown Boston, which is one of the reasons why we believe that there will be upward pressure on pricing.