IREM president’s message: The housing shortage is more than a numbers problem

New England’s housing shortage has become a familiar headline, typically with the issue being addressed in terms of supply, affordability, and public policy. But for property managers, the crisis is personal and increasingly operational.

Every day, property management professionals confront the domino effects of a limited housing market: increased pressure on existing stock, growing resident expectations, rising operating costs, and the challenge of maintaining high-quality living environments amid what the New England Council describes as “an unprecedented shortage of housing at all levels.”

The housing scarcity is further underscored by a posting in Mass.Gov that states “In order to close today’s supply shortfall and meet anticipated housing needs under a mid-range population growth scenario from 2025-2035, Massachusetts needs to add at least 222,000 homes to the year-round housing stock.”

While inventory statistics tell “just the facts” side of the story, the lived experience tells another. The shortage is driving up home prices and rents, making it increasingly difficult for lower-income families, young adults starting their careers, and first-time homebuyers to afford housing.

Property managers are on the frontline of these realities, working to maintain stability in buildings where turnover has slowed but financial pressures have intensified. In a housing crunch, the role of professional management becomes even more essential, specifically in resident support, maintenance/capital planning, and transparent practices.

We are well aware that the housing crunch will not resolve quickly, but we are also mindful that property managers across the region are helping to soften its impact by strengthening resident relationships, practicing proactive building maintenance, and advocating for practical policy solutions.

As the housing landscape continues to evolve, IREM Boston Chapter will likewise continue to support and advance the profession of real estate management, leading with integrity, expertise, and a deep understanding of the communities we serve.

The 2026 New England Education & Vendor Expo held at the DoubleTree by Hilton in Warwick, R.I. on Oct. 7, brought together property management and real estate professionals from across New England for a full day of professional development, connection and conversation. Organized collaboratively by IREM Boston, Connecticut and Rhode Island chapters, the event served as a regional forum for sharing best practices, exploring emerging trends, and engaging with industry partners.

Yoany Vargas is a senior regional property manager at Housing Management Resources, Inc. and the 2026 president of IREM Boston Metropolitan Chapter No. 4.