Home bidding wars' new frontier

Also: Why Boston financial giants are still into crypto; Trump to make first federal court appearance [Donate ❤️]( [View in Browser](  June 13, 2023 🌧️ Showers and patchy fog this morning, with a high near 76. Good Morning Boston, We're keeping our head on a swivel for the bear that's [been roaming around Arlington and Lexington]( (and [maybe Newton]( but at least there are no more school delays because of it today. To the news: - This is not breaking news: apartments in the Boston area are expensive. According to Boston Pads, the average rental price in the city [topped $3,000 for the first time ever this month]( (and that data excludes luxury apartments). Now as the rental market heats up even more ahead of [the big Sept. 1 lease turnover]( WBUR's Amy Sokolow reports a new trend is taking hold: bidding wars. That's right — not just for homes, but for rentals. - The numbers: One recent analysis found 5% of Boston-area rentals tracked last month went for "over-asking" by as much as $400 or $500, The Boston Globe [reported on Sunday](. In one zip code along the Green Line Extension in Somerville, the percentage was nearly 14% this spring, [according to Boston.com](. - Why? First, there's the region's now-infamous housing shortage. But there's a second factor: interest rates. Boston Pads CEO Demetrios Salpoglou told Sokolow rising mortgage interest rates has forced would-be homebuyers to remain renters, leading to a near-record-low apartment inventory. "It's a tight market," he said. "I don't think any of this is going to change anytime soon." - In the market for a Sept. 1 lease? Salpoglou says to search intensely over the next couple days and make a quick decision. The last big push of apartments come on the market between now and July 1. The pickings only get slimmer after that. - Know someone moving to Boston? Be sure to send them [this checklist]( to help them get settled once their housing is locked down. - Hey, Hull residents — did you miss your chance to vote during last month's local election? Now's your second chance. After [a six-alarm fire blocked traffic to the town's only polling place for 90 minutes]( during the May 15 election, Hull officials are reopening the polls for two hours this evening in order to complete the election. - Polls will [reopen from 5:30 p.m. to 7:30 p.m. at Hull High School]( for anyone who did not vote on May 15. If you already voted, you're all set. - What are you even voting on? The [election results so far]( show that several close races hang in the balance, including a Hull school committee seat and a redevelopment authority contest. - The Red Line's new normal: Prepare for a brief but disruptive shuttle bus interlude if you're riding the Red Line's Braintree branch late at night this week. Riders will have to hop off the train and take [shuttles between JFK/UMass and North Quincy]( starting at 8:45 p.m. each night through Thursday. And it will be the same routine on weekday nights [next week and the week after that]( as well. - Commuter rail service on the Middleborough, Kingston and Greenbush line also continues to be [replaced by an express shuttle bus]( between Braintree and South Station every weekday in June. - Go deeper: You probably already know the reason for diversion: it gives MBTA crews more time to work on the track to help alleviate speed restrictions — many of which [have been in effect since rail defects were identified]( nearly three months ago. MBTA General Manager Phil Eng told WBUR’s Andrea Perdomo-Hernandez last week he isn't ready to say when speed restrictions will be lifted on each subway line. After [prioritizing Blue Line slow zones]( the T is [focusing this month on the Red and Green Lines](. - In related news: Trolleys are [returning to the tracks this morning]( on the Green Line's B branch following [a derailment yesterday at Packard's Corner in Allston](. No one was injured. T officials believe the track conditions contributed to the derailment. - Save the date: This year's sales tax holiday in Massachusetts will likely be the weekend of Aug. 12-13, according to Senate President Karen Spilka. Lawmakers are set to vote Thursday to make it official. P.S.— Roger Payne, the local biologist whose recording of whale songs energized the "Save the Whales" movement and pushed Congress to pass the Marine Mammal Protection Act, died at his home in Vermont last Saturday at the age of 88. WBUR's Barbara Moran interviewed Payne about his life work last summer. In case you missed it, [listen to the interview (and Payne's recordings) here](. Nik DeCosta-Klipa Editor, Newsletters [Follow](  Support the news  The Rundown [Why Boston financial giants are still into crypto despite rocky times]( Large Massachusetts-based companies Fidelity and State Street continue to offer investments in crypto. During a tumultuous period, they've even increased opportunities for digital investing. [Read more.]( [Why Boston financial giants are still into crypto despite rocky times]( Large Massachusetts-based companies Fidelity and State Street continue to offer investments in crypto. During a tumultuous period, they've even increased opportunities for digital investing. [Read more.]( [Trump is set to appear in court after being indicted over classified documents]( The former president is expected in the federal courthouse in Miami for processing on Tuesday afternoon. Trump faces 37 federal charges, including unlawfully retaining government secrets. [Read more.]( [Trump is set to appear in court after being indicted over classified documents]( The former president is expected in the federal courthouse in Miami for processing on Tuesday afternoon. Trump faces 37 federal charges, including unlawfully retaining government secrets. [Read more.]( [Mass. SJC Justice Cypher's surprise retirement gives Healey first high court pick]( Supreme Judicial Court Justice Elspeth Cypher plans to step down in January, after a nearly seven-year tenure. That means that Gov. Maura Healey —whose predecessor, former Gov. Charlie Baker, appointed all seven of the court's current members — will get to make her first pick. [Read more.]( [Mass. SJC Justice Cypher's surprise retirement gives Healey first high court pick]( Supreme Judicial Court Justice Elspeth Cypher plans to step down in January, after a nearly seven-year tenure. That means that Gov. Maura Healey —whose predecessor, former Gov. Charlie Baker, appointed all seven of the court's current members — will get to make her first pick. [Read more.]( [Activists host ‘retirement party’ for New England’s last running coal plant, but its future is uncertain]( Activists threw a retirement party complete with cake and dancing for New England's last running coal plant in Bow, New Hampshire. Operators at the Merrimack Station have not said whether they plan to retire the plant, though it failed to win crucial funding earlier this year. [Read more.]( [Activists host ‘retirement party’ for New England’s last running coal plant, but its future is uncertain]( Activists threw a retirement party complete with cake and dancing for New England's last running coal plant in Bow, New Hampshire. Operators at the Merrimack Station have not said whether they plan to retire the plant, though it failed to win crucial funding earlier this year. [Read more.]( [Massachusetts bills focusing on women veterans go before legislative committee]( Several pieces of legislation seek to bolster services for women veterans, many of whom have gone unidentified by the state, according to the Massachusetts' auditor's office. [Read more.]( [Massachusetts bills focusing on women veterans go before legislative committee]( Several pieces of legislation seek to bolster services for women veterans, many of whom have gone unidentified by the state, according to the Massachusetts' auditor's office. [Read more.]( Anything Else? - We're keeping it classy in our summer arts guide today. Performing arts writer Jacquinn Sinclair has [11 theater productions to put on your calendar this season](. Meanwhile, music critic Lloyd Schwartz has [a rundown of 13 must-see New England classical music events]( hosted from the banks of the Charles River to Newport to Tanglewood. - How can you help the commonwealth? By counting some turkeys. Massachusetts officials are [asking residents to report turkey sightings this summer]( to help monitor their population health. Sounds easy, but there is one catch: you have to separately count male and female turkeys. Learn how to tell the difference [here](. - And we have a winner: The Denver Nuggets [won their first NBA Finals in franchise history last night]( led by the inimitable 28-year-old Serbian center Nikola Jokić, who was named the Finals' most valuable player. He also gave an [incredibly understated review]( of the historic Game 5 victory: "It's good. The job is done. We can go home now." - The local angle: Nuggets guard and Dorchester native Bruce Brown [told The Boston Globe]( he's going to bring the Finals trophy back to his hometown to show local kids. - The facts detailed in last week's indictment of former President Donald Trump would be shocking no matter how they were presented, writes Jane Rosenzweig. But she [argues in this commentary]( that special counsel Jack Smith made writing choices that make the document — and therefore the case — especially effective.  What We're Reading 📚 This section is supported by [Beacon Hill Books]( a new independent bookstore. - She survived a White House lightning strike. Could she survive what came next? ([Washington Post]( - Wu Signals Help for Battered Office Buildings ([Banker & Tradesman]( - A Star Reporter's Break With Reality ([The Atlantic](  Tell Me Something Good [11-month-old puppy will be keeping swimmers safe at Scarborough beach (Bangor Daily News)]( Buoy is a Newfoundland puppy who will help keep swimmers and lifeguards safe at the Maine beach this summer. Here's how. [Read more.]( [11-month-old puppy will be keeping swimmers safe at Scarborough beach (Bangor Daily News)]( Buoy is a Newfoundland puppy who will help keep swimmers and lifeguards safe at the Maine beach this summer. Here's how. [Read more.]( Listen: The Common debriefs on [this past weekend's return of Boston's Pride parade under new organizers](. Play: [WBUR's daily mini crossword.]( Can you keep your streak going? Before you go: [Deploy the Bear Control!]( 😎 Forward to a friend. They can sign up [here](. 📣 Give us your feedback: newsletters@wbur.org 📧 Get more WBUR stories sent to your inbox. [Check out all of our newsletter offerings.]( Support the news   Want to change how you receive these emails? Stop getting this newsletter by [updating your preferences.](  I don't want to hear from WBUR anymore. Unsubscribe from all WBUR editorial newsletters [here](.  Interested in learning more about corporate sponsorship? [Click here.]( Copyright © 2023 WBUR-FM, All rights reserved.