Your recent article about our stratospheric residential real estate market (“Enough for a mansion, right? $1 million,” Page A1, Sept. 2) misses an important point: Over time, these trends and our current infrastructure will transform Boston from a brainpower to a backwater location. People vote with their feet. The lack of housing and transit options will lure many young married professionals to greener pastures in upstart cities, such as Indianapolis and the Raleigh, N.C., area.
Our local leadership has three choices: (1) accept this transformation and resulting stagnation, (2) significantly increase regional housing production, or (3) create a transit infrastructure for young professionals to commute from gateway locations.
While (1) is obviously a poor choice, (2) is unlikely because of NIMBY resistance beyond Boston proper. Our best hope is to invest in high-speed rail connections, particularly to a Worcester region with significantly lower housing costs.
Other countries, such as France and Germany, have built these transit links. We have the brains and capital to do it here.
The writer is president of the real estate company Global Office Link.