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One of the reasons property prices are so volatile in Massachusetts is that the ability to develop properties is very, very difficult. The laws of the state have given the power to the anti development forces in the state and make it  very difficult and expensive to  build anything new. So prices remain high and fluctuations in demand move the home values more than most regions of the country.

That is changing to a lesser degree with new legislation that will make the permitting process in the  state easier to get through. Compared to most states, this  process  is still insane and difficult, but for Massachusetts it is an improvement. Some of the  changes in the  new legislation are:

• Create a new permit session of the Land Court.
• Allow developers to continue at their own risk in the face of an appeal once a special permit is granted.
• Provide funding for the Division of Administrative Law Appeals to remove the backlog of environmental appeals and require a 90 day-decision on future appeals.
• Require the MassHighways commissioner to create regulations for expediting access permits.
• Create the Massachusetts Permit Regulatory Office within the Executive Office of Economic Development.
• Change the Expedited Permitting Act — also known as Chapter 43D — to encourage more communities to opt in to a 180-day, site specific expedited permitting process.

via the Boston Business Journal:.

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