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Old 09-01-2012, 07:02 AM
 
1 posts, read 1,619 times
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We are looking to buy a home in MA but the prices are so unreal compared to other states I just dont get it. People here are miserable jobs are at a all time low but house prices are at an all time high? Yes I know a few years they were higher but we just cant figure out why? Why is a 3 bed 2 bath home in FL 100K and the same in MA is 3-600K? Its warmer in FL all year around plus people there at least when we were there seemed laid back and somewhat nice. In MA you cant go into a store without getting attitude from someone... I just dont get why the prices are the way they are??
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Old 09-01-2012, 08:22 AM
 
278 posts, read 700,314 times
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Supply vs. demand. Why is this so hard for people not from this region to understand?
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Old 09-01-2012, 08:44 AM
 
Location: Needham, MA
8,524 posts, read 13,898,586 times
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Quote:
Originally Posted by brent s View Post
Supply vs. demand. Why is this so hard for people not from this region to understand?
Agreed. Real estate is a pure example of supply vs. demand. If people didn't want to live here it would be a lot cheaper to live here. You couldn't pay me to live in FL. It's just not for me. I went to college down there and I think there are still tire tracks on the street from me leaving so fast.
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Old 09-01-2012, 08:54 AM
miu
 
Location: MA/NH
17,758 posts, read 40,010,815 times
Reputation: 18034
Quote:
Originally Posted by jack12 View Post
We are looking to buy a home in MA but the prices are so unreal compared to other states I just dont get it. People here are miserable jobs are at a all time low but house prices are at an all time high? Yes I know a few years they were higher but we just cant figure out why? Why is a 3 bed 2 bath home in FL 100K and the same in MA is 3-600K? Its warmer in FL all year around plus people there at least when we were there seemed laid back and somewhat nice. In MA you cant go into a store without getting attitude from someone... I just dont get why the prices are the way they are??
So... why do YOU want to move to Massachusetts then? How about you and your family stay in Florida if it's so great down there?
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Old 09-01-2012, 10:52 AM
 
Location: MA
156 posts, read 323,561 times
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If you don't like it here, then simply don't move here. Home prices vary all over the country and yes, the northeast is one of the most expensive places to live but as MikePRU pointed out, if there were no demand to live here, prices would be a lot lower and more comparable to less desirable places like, say Florida. Yes, Florida has nice weather if you love humidity and Disney World and that's about it. Search this forum a bit and you will find threads where people state why they like living here.
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Old 09-01-2012, 01:10 PM
 
596 posts, read 977,589 times
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Quote:
Originally Posted by jack12 View Post
We are looking to buy a home in MA but the prices are so unreal compared to other states I just dont get it. People here are miserable jobs are at a all time low but house prices are at an all time high? Yes I know a few years they were higher but we just cant figure out why? Why is a 3 bed 2 bath home in FL 100K and the same in MA is 3-600K? Its warmer in FL all year around plus people there at least when we were there seemed laid back and somewhat nice. In MA you cant go into a store without getting attitude from someone... I just dont get why the prices are the way they are??

A couple of points:

1. Asking prices are not as important as selling prices when determining what real estate is worth.
2. In general, places are cheap or expensive for a reason.
3. Due to the concept of supply and demand, it is incorrect to state that a place is "over-priced."
The correct statement would be "I can't afford it."
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Old 09-01-2012, 01:31 PM
 
Location: San Antonio
4,422 posts, read 6,212,755 times
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Land in MA and in NE is at a premium. There simply is not a lot of land available due to strict zoning, and environmental laws that don't exisst in southern, red states. This makes land more expensive and developers need to pass the cost along to consumers to make ends meat. Plus, some people are willing to pay a little more for safety, better schools, culture, etc. The recession has not hit MA as bad because it has a diverse economy.

I live in Texas now, and I love it here but I would NOT want to raise a kid down here. It's cheap, but the schools are awful and the crime is high.
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Old 09-01-2012, 01:49 PM
 
18,608 posts, read 33,176,623 times
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A house is only "worth" what someone is willing and able to pay for it.
Massachusetts is far from "miserable" regarding jobs, and many many new jobs are in biotech, technology, etc. High-salary jobs. People who demand good schools for any kids they might have.

Also, while houses further from metro Boston could never be called "cheap," there are certainly options that are more affordable.

For the record, I'd never live anywhere that was more hot/humid than a Boston summer (now thankfully over). I think a lot of people agree on this. Also, the intellectual climate and options here are fairly spectacular. Take away those advantages, and yes, lots of other places are a lot cheaper, if one wanted to live in those places.
For the record, I work as a technician by the hour, and have for 31 years (since age 28, where before I worked here and there, etc.). I have managed to get my dream house (smallish, by most standards) 35 miles from Boston and an easy 20-mile commute to my job at the edge of Cambridge/Rt.2. I would only live elsewhere if retirement/illness or some other financial issue said I had to live elsewhere, and I'd still never go anywhere more humid.
One data point.
Housing in the area went up in a rush in the mid-late 1980s because of a brand-new industry going like a rocket- hardware and software. Money that didn't exist before. There was a downturn/slowing in the early 1990s (although no collapse Houston-style- not enough land for that much over-building) and then it started up again with internet and related businesses taking off. Now it's biotech.
There's a bit of a cascading effect. No "starter" homes under, say, $200,000, so anyone "buying up" is doing so from a relatively higher point. I do wish someone would build small houses for less money, but there's no land (land being the main expense) and so it doesn't happen.
It would be surprising to find a very desirable area to live where the housing was considered cheap. It's all what people do and don't want and where the work is.
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Old 09-01-2012, 07:00 PM
 
Location: near bears but at least no snakes
26,635 posts, read 28,427,436 times
Reputation: 50438
While I agree that the prices are too high, you can't compare what you get in MA with what you get in FL.

MA has city, country, ocean, hills, rivers, beautiful scenery, history, culture, and more--and it's all close together. We have great higher education institutions, famous private schools, and a great number of residents who are educated. Most of the people are good people although you can run into snobs in some places--just get to know where those places are and avoid them.

Our climate isn't great but Florida's climate is only good in the winter. I've been there in August and I'll never do that again and couldn't imagine living there year round.

We do need more affordable, smaller houses and people are moving away because they can't afford the housing. MA is a highly desirable place to live though.
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Old 09-01-2012, 07:59 PM
 
7 posts, read 17,719 times
Reputation: 29
I agree with Brightdoglover that more small, affordable houses need to be built that are easily accessible to Boston.

There are now a lot of singles (like myself) who are looking to buy a small house, but are in the <$500,000 range and can't afford the better communities where most houses tend to be huge. I have been searching for more than 1 1/2 years for a nice, tiny house in my price range, in decent communities with public transportation to Boston, and the large majority of houses in my price range have been either tear downs or in really bad locations.

Part of the problem seems to be that within the past 10-20 years, a lot of people have been buying up the small houses and then tearing them down and building McMansions on the land. But the singles and retirees who are looking, and who don't want condos, generally are looking for houses that are <1,500 square feet. So it's an unfortunate trend.

They need to start building more "smart" communities around public transportation and stores. A couple of years ago, before the latest economic downturn, someone was going to build a mixed residential/commercial community at Westwood Station. But with the economy, that never got off the ground.

And recent freestanding house developments like the Riverwalk in West Concord start in the $500s.

Hopefully some smart developer will come along and build an affordable community of small houses around public transportation soon. I really think there's a lot of money to be made there!
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