Like he** I'm going to pay these prices! (Boston, Worcester: real estate market, 2015)

[Boston Shudra]

Originally Posted by MikePRU

The only thing that determines the value of a property (government regulations on the market aside) is what the average person is willing to pay.

But the only reason the average person is willing to pay $530,000 on 875 square feet of 1910 working-class housing is because they have to. And they shouldn't have to. There's no reason for this to be the standard. It's all artificial.

Originally Posted by masssachoicetts

Your like the same age as me if I remember correctly.

Boston is cool and all. But for someone in their 20s? Get out. I moved out to far better places. Find a city nearby like NY DC PHL CHI HRT PVD any of them... They all have good jobs and you can save money and invest in good property.

Maybe in 3-5 years when I've saved a bunch and have my masters (knock on wood). But even then, the job market is definitely better in the Boston area for my line of work than in any of those cities. I think my degree(s) would carry more weight here too, being from local universities.

[MrDee12345]

Originally Posted by Boston Shudra

But the only reason the average person is willing to pay $530,000 on 875 square feet of 1910 working-class housing is because they have to. And they shouldn't have to. There's no reason for this to be the standard. It's all artificial.



Maybe in 3-5 years when I've saved a bunch and have my masters (knock on wood). But even then, the job market is definitely better in the Boston area for my line of work than in any of those cities. I think my degree(s) would carry more weight here too, being from local universities.

I get what you're saying.

I've lived overseas for years and while my salary for the country I'm currently in is okay, I could never afford to move back to Eastern Mass.

I love Mass and Boston, but I don't see any way we could move back unless we inherit some property. However, I'd prefer to stay in Mass, even if it means moving out to the Springfield area, just because Mass is one of the best and well-run states in the country. Springfield is nothing special, but it has nice nice burbs and you if you live in West Springfield or close by, you'll have access to the Hartford and Springfield markets for jobs.

Sure Providence and New Haven are better cities than Springfield, but CT has notoriously high taxes and Rhody government is often a basketcase. In my opinion, if you can find a good job in a less expensive part of Mass, you can really get the best of both worlds (well run state/good safety nets, etc...)

I guess another option you could have is find a place halfway between New Haven and Hartford - it's much more affordable there and you'll have access both cities' job markets.

[simplexsimon]

Originally Posted by Boston Shudra

But the only reason the average person is willing to pay $530,000 on 875 square feet of 1910 working-class housing is because they have to. And they shouldn't have to. There's no reason for this to be the standard. It's all artificial.

Can you elaborate on what you mean by "artificial"?

[sawyer2]

The high asking price is only the start - multiple all cash and over ask offers, waiving all contingencies etc.

I talked to a few local brokers and they said that this year is shaping up to be the biggest blood bath yet for buyers. There is nothing on the market and inventory is expected to remain low - compounded by the fear of inevitable rising rates, strong stock market, bloated investments/savings...

I have always been a firm believer that the best time to buy a house is when it is the best time for you financially, and personally/emotionally - i.e. don't try and time the market for your primary residence. However, the current market frenzy is giving me pause, and if I was looking I may sit by the sideline for a while.

The problem of course is that your average W2 buyer is now further behind than they were 2-3+ years ago - their saving rate has not kept up with the housing appreciation rate in many towns.

[massnative71]

Originally Posted by MrDee12345

However, I'd prefer to stay in Mass, even if it means moving out to the Springfield area, just because Mass is one of the best and well-run states in the country.

Come on it's way too early in the morning for this...


Seriously, have you ever lived in Mass.?

[yesmaybe]

When does the eviction ban end?

[massnative71]

Originally Posted by sawyer2

The high asking price is only the start - multiple all cash and over ask offers, waiving all contingencies etc.

I talked to a few local brokers and they said that this year is shaping up to be the biggest blood bath yet for buyers. There is nothing on the market and inventory is expected to remain low - compounded by the fear of inevitable rising rates, strong stock market, bloated investments/savings...

I have always been a firm believer that the best time to buy a house is when it is the best time for you financially, and personally/emotionally - i.e. don't try and time the market for your primary residence. However, the current market frenzy is giving me pause, and if I was looking I may sit by the sideline for a while.

The problem of course is that your average W2 buyer is now further behind than they were 2-3+ years ago - their saving rate has not kept up with the housing appreciation rate in many towns.

Why would people be holding onto inventory with the fear of rising interest rates? You would think that if one wanted to sell, they would do so NOW.

[sawyer2]

Originally Posted by yesmaybe

When does the eviction ban end?

March 31st if not extended

[sawyer2]

Originally Posted by massnative71

Why would people be holding onto inventory with the fear of rising interest rates? You would think that if one wanted to sell, they would do so NOW.

It impacts the 'trading up' market also - people are not leaving for similar reasons.

[massnative71]

Originally Posted by sawyer2

It impacts the 'trading up' market also - people are not leaving for similar reasons.

I figured if anything, there would be more people cashing out and fleeing the state. Particularly the boomers, who seem to be sitting on a lot of the inventory.