I was doing my rounds searching properties for sale on MLS. I noticed a curious and very lopsided figure in available multi familiy buildings in Boston vs. Cambridge. As I write this there are 264 available multi family building in Boston and only 19 in Cambridge. This strikes me as a pretty drastic difference.
Boston is much larger than Cambridge. According to Wikipedia Boston has 48 square miles of land compared to Cambridge with 6.4 square miles of land. So Boston is 7.5 times larger than Cambridge. Still, if you multiply the 19 available multi families in Cambridge you still only get 142 which is around 40% less available than Boston.
Is it the large universites Harvard and MIT gobbling up all the available land in Cambridge? Is it that rentals are such a sure thing near theese large universities that multi family buidlings rarely change hands? Is it somehting else? Its a very curious thing.