Friday, August 21, 2015

Friday Grab Bag: Donald Trump and Mexicans; Cambridge Real Estate

It's Friday. It's time for the Grab Bag.

Numero Uno
Besides Donald Trump being a proverbial caricature of the idiotic, bloviating megalomaniac who thinks that being president of the United States is just a simplified version of being a real estate tycoon in New York City -- yes, besides all of that, it's worth remembering that Donald Trump made his money ... in the hotel industry ... in the gaming industry ... in the construction industry. Do you think in any of these he ever hired an undocumented worker from Mexico to wash sheets, serve drinks or pour concrete? I'm just curious.

Numero Dos
Meanwhile, in Cambridge, the real estate market continues to move at a speed that outpaces the local politics exponentially.  Here's how the real estate conglomerate Lincoln Properties recently assessed the Cambridge market:
The Cambridge office market remained the most competitive and selective market across Eastern Massachusetts and the Northeast region. The vacancy rate measured 3.4% and has recorded single digits every quarter since early 2010.

East Cambridge solidified itself among the elite real estate markets in the World (emphasis mine). With rents seemingly increasing daily, and few options available, tenants are being forced out of Cambridge into Boston and emerging tech hubs like Somerville and Watertown. Looking forward, with a scarcity of developable land, expect rents to continue surging and demand for alternative locations within Route 128 to persist.