"We know just from knowing real estate that most building goes on in the upper portions of the market," he says. "I see more luxury condominiums and upscale housing developed than low-cost housing."
Von Hoffman says developers focus on building luxury housing, which has the greatest potential for profit.
"The real estate industry by and large serves the upper levels of income," he says. "They won't develop low-income [housing]."
But von Hoffman says he stands by the optimistic stance of the report. He says the housing boom is a product of the current period of economic prosperity and job growth, which creates a demand for additional homes.
The Boston housing boom is a product of the area's strong economy, he says.
"These numbers reflect the economic health of Boston and other hot cities, so in that sense, yes, it's a good thing," he says.
Von Hoffman acknowledges that the increased housing demand has not benefited all equally and that rising demands can drive up housing costs.
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