2021 Real Estate Observations (Boston, Cambridge, Quincy: top, towns, development)

[yesmaybe]

Originally Posted by matrix5k

Why didn't they just build two separate SFH?

Probably town regulations allowing for doing this since it's a "townhome" versus two "SFH" on what was one lot.

What I thought was interesting was them trying to sell the original unit above what the developer paid... and now there's no backyard.

[gf2020]

Originally Posted by yesmaybe

https://www.redfin.com/MA/Chelmsford...home/179052777
https://www.redfin.com/MA/Chelmsford...home/179415001

How about this one in Chelmsford.

That is a weird one, the lot must have been zoned for multi-family dwellings.

Those prices seem rather ambitious. That is a super busy location at the intersection of Golden Cove Road, with the Worker's Credit Union office around the corner one way and the Center Elementary School across the street the other direction.

They did build some expensive townhomes directly behind this property, off Turnpike Road, across from the bank, a few years ago, so maybe this builder is trying to capitalize on that proximity.

[robr2]

As noted, it's most likely zoned for single or multi-family - looks to be a two family a few doors down.

As for why not two houses, they probably didn't have enough land to split or lack of frontage.

[msRB311]

Recent article on layoffs:

https://www.npr.org/2022/06/29/11081...UUf9zwBPo6hUqA

[simplexsimon]

Originally Posted by msRB311

Recent article on layoffs:

https://www.npr.org/2022/06/29/11081...UUf9zwBPo6hUqA

Thanks for sharing. Those that hired the fastest are cutting the most. Crazy to see him say there are two openings for every applicant and that he needs to cut that down. Tough position to have to make that decision.

[msRB311]

I noticed a lot of comments on the article were like, oh hey i thought there was a worker shortage. there is a worker shortage in lower paid jobs in the service industry. There isn't a worker shortage for higher paid tech jobs.

Nursing and teaching has a shortage as well.

[BostonBornMassMade]

Originally Posted by BostonBornMassMade

Priced out of the city, Black Bostonians are finding their dream homes on the South Shore:

https://www.bostonglobe.com/2022/05/...s-south-shore/

Six years ago, Kattia Ira was looking to move her family from Hyde Park to a larger home, with a bedroom for each of her three children and perhaps a spare. She wanted a fence, a yard, a grill, and deck. Maybe, some day, they would get a dog.

It would be her first home purchase. The market was tight, but Ira found exactly what she was looking for — about 20 miles south of Boston, in the working-class city of Brockton.

“We had never heard much about Brockton, but that’s where we ended up — and we’ve loved it,” said Ira, who still works in Boston and maintains ties there. Her children still see a pediatrician in Hyde Park.

Ira’s homebuying experience was a perfect prelude to her work: She is a real estate agent, specializing in helping other first-time homebuyers find their dream home. And increasingly, she said, they are Black buyers, like her, who find themselves priced out of their home neighborhoods of Hyde Park, Dorchester, Roxbury, and Mattapan, and find their place in familiar communities south of the city such as Randolph, Stoughton, and Brockton.

…

The housing market, there’s just high constraint right now, and there are no homes to buy in the city of Boston,” said Crawford, who said that roughly 80 percent of the 5,200 people who graduated from the Alliance’s first-time homebuyer instruction in Greater Boston in 2020 and 2021 were people of color, mostly from Dorchester, Roxbury, Hyde Park, and Mattapan.

Crawford said her agency, which hosted Wu’s press conference last month, does not track where graduates ultimately buy their first home, but she has heard from many who moved south of Boston — to Brockton, Randolph, and Stoughton, and, increasingly, as far as Taunton — all cities along the Route 24 highway corridor that leads into Boston.

Black and Latino households got more mortgages than ever in 2020 — but continued to buy houses in only a small number of Mass. communities

More Black and Latino households are buying their first homes in Massachusetts than ever before, though overall they continued to choose only a handful of towns, according to a new report that tracks lending data in the state.

Southeastern Massachusetts Dominates

Brockton 1054 home Loans

White: 18.6%
Black 51.1%
Latino 15.1%
Asian 1.9%

Avon 66 homeLoans

White: 36.4$
Black 30.3%
Latino 9.1%
Asian 9.1%

Randolph 348 home Loans

White: 17.0%
Black 36.2%
Latino 17.5%
Asian 18.2%

Stoughton 356 homeLoans

White: 39.3%
Black 24.4%
Latino 16.0%
Asian 14.9%

Holbrook 148 homeLoans

White: 47.3%
Black 18.2%
Latino 16.9%
Asian 5.4%

West Bridgewater 88 FHA Loans

White: 63.7%
Black 17.0%
Latino 6.8%
Asian 3.4%

Bridgewater 394 homeLoans

White: 68.5%
Black 13.2%
Latino 5.3%
Asian 2.0%

Raynham 220 home Loans

White: 69.1%
Black 15.0%
Latino 4.1%
Asian 1.4%

Taunton 812 home Loans

White: 54.4%
Black 22.9%
Latino 8.7%
Asian 1.2%

Attleboro 638 home Loans

White: 54.4%
Black 11.7%
Latino 5.8%
Asian 6.7%

Fall River 755 home Loans

White: 62.6%
Black 16.6%
Latino 9.7%
Asian 1.5%

New Bedford 923 home Loans

White: 55.4%
Black 14.6%
Latino 17.6%
Asian 0.9%


The only other cities or towns in the state not in Southeastern Massachusetts with 10%+ Black home Loan recipients were: Worcester (15.9%), Springfield (14.5), and Leominster (10.0%)

A few other SEMA communities had a loan share of 7.5-10.0% black (slightly above state average black population) namely Abington, Easton, Canton, Whitman and East Bridedgewater.

Top Communities for Massachusetts' Black home loan recipients in 2021 by #

Brockton, 539
Worcester, 271
Boston, 256
Springfield, 239
Taunton, 186

In Boston, the total number of loans to Black borrowers decreased from 2019 to 2020, from 306 to 256. Most of the loans — 81 percent — were made in just five neighborhoods: Dorchester, Roxbury, Mattapan, Hyde Park, and Jamaica Plain.

[id77]

Originally Posted by simplexsimon

Thanks for sharing. Those that hired the fastest are cutting the most. Crazy to see him say there are two openings for every applicant and that he needs to cut that down. Tough position to have to make that decision.

Headcount going unfilled for months and sometimes even a year has been a pretty common situation within many large tech companies for nearly a decade now, so that part didn't sound crazy in the least to me. There's usually applicants, though -- just not qualified ones.

It sounds like they're either smaller places that tried to grow too aggressively or haphazardly or had a sudden loss of business that forced a resize.

[msRB311]

Originally Posted by id77

Headcount going unfilled for months and sometimes even a year has been a pretty common situation within many large tech companies for nearly a decade now, so that part didn't sound crazy in the least to me. There's usually applicants, though -- just not qualified ones.

It sounds like they're either smaller places that tried to grow too aggressively or haphazardly or had a sudden loss of business that forced a resize.

or their products sucks and people dont have a need for it.

[charolastra00]

I went through a few rounds of interviews at Coinbase and it was really clear that they were in over their heads from that process. Pretty sure they cut the whole division I was interviewing with.