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Old 03-06-2024, 11:03 AM
r_p
 
230 posts, read 221,439 times
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Quote:
Originally Posted by newenglandgal123 View Post
How many of them wish they kept their $300-400K mortgages back in Texas or wherever warmer climate states they came from?
It is not $300-400K anymore as prices in major southern cities increased more in relative terms after Covid, e.g., see https://fred.stlouisfed.org/graph/?g=1hW0K

Unlike Boston, prices in Miami have almost doubled. Boston might actually be cheaper once you factor in the difference in salaries, property taxes, insurance rates etc.
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Old 03-06-2024, 11:23 AM
 
16,308 posts, read 8,126,207 times
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I mean MA can be a nice place to live particularly if you're coming from a rural Midwest area with not much to do. I've noticed that when people make big moves though rarely will they ever admit oh I regret this. The only time it becomes obvious that they didn't like the move is if they move somewhere else.
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Old 03-06-2024, 11:54 AM
 
3,586 posts, read 1,816,957 times
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Quote:
Originally Posted by r_p View Post
It is not $300-400K anymore as prices in major southern cities increased more in relative terms after Covid, e.g., see https://fred.stlouisfed.org/graph/?g=1hW0K

Unlike Boston, prices in Miami have almost doubled. Boston might actually be cheaper once you factor in the difference in salaries, property taxes, insurance rates etc.
Well, it appears you can get a palace for ~$300-400K in Houston ....you wouldn't get anything near this size or quality house here in MA for that! 7135 Majestic Oaks Dr, Houston, TX 77040 | MLS #13548231 | Zillow
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Old 03-06-2024, 12:15 PM
 
3,586 posts, read 1,816,957 times
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Quote:
Originally Posted by BostonMike7 View Post
Usually when we interview co-ops, we get mostly locals. But last few cycles we've gotten a lot of out-of-state applicants. So we interview some of them that look good on paper. Going into the interview it's always on my mind if someone who lives in Iowa will really want to relocate to MA for 6-mos for an internship. The pay is around 65K/year but it's for 6 mos.

So usually in the interview I mention that it's in in-person role here in MA and ask them if they have any issue with relocation. All these eager kids say "Sure! I have no problem with it!". I think ask if they have looked into the COL and costs associated with living in MA. They all say no but they will give it a look.

We offer them a job and give them a few days to think it over. Vast majority of the time they end up declining. Sometimes we get feedback and you can pretty much assume what the reason was.

Most of our hires are either local, or get roommates/family assistance with living situation.
You mean they don't want to spend like $3K/month to rent a 700 sq ft apartment in Waltham?!
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Old 03-06-2024, 04:01 PM
 
3,586 posts, read 1,816,957 times
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Quote:
Originally Posted by BostonMike7 View Post
Kinda why I want to bust my butt now, squirrel money away and get my investments in order, so I can sell my overpriced house and move to a place where I don't need to work the job I am working now if i can't find one nearby.

I'll gladly "retire" in my 50's and buy a cheaper house in a lower COL area and work at Home Depot. Hell, i spend so much time in there now I might as well get paid for it.
I'm in my 30's and while I can't retire yet...I was very careful when buying a home to keep my overhead low so that if I ever got real fed up with working for any particular company, theoretically I can say it's quitting time and still be able to live comfortably for a few years before I would need to find a new job. I realize a lot of people don't have that b/c they have such large mortgages and debt but that's the tradeoff to living below your means. It's a pretty great feeling...next best thing to retiring I guess.
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Old 03-06-2024, 04:25 PM
 
Location: Eastern Massachusetts
958 posts, read 532,399 times
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Quote:
Originally Posted by msRB311 View Post
I mean MA can be a nice place to live particularly if you're coming from a rural Midwest area with not much to do. I've noticed that when people make big moves though rarely will they ever admit oh I regret this. The only time it becomes obvious that they didn't like the move is if they move somewhere else.
MA is a great place to live in terms of many things... Ocean you can swim in, mountains nearby, great city of Boston and so on.

We have decent climate. Yes winters can be snowy, but they are not bad lately.
We do not have scorching heat and humidity all summer long, we do not have bad hurricanes, tornadoes, earthquakes.

For me it is several ports we can drive to so we do not need to fly to warm places.

If we need to save money... I'd rather downsize than move. Probably to some townhouse or condo.
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Old 03-07-2024, 11:10 AM
 
15,793 posts, read 20,472,889 times
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Quote:
Originally Posted by newenglandgal123 View Post
Well, it appears you can get a palace for ~$300-400K in Houston ....you wouldn't get anything near this size or quality house here in MA for that! 7135 Majestic Oaks Dr, Houston, TX 77040 | MLS #13548231 | Zillow

Close college roommate is house hunting in Houston right now. His budget is around $1mil and lets just say helping him search for a nice home has been an eye-opening experience in comparison to MA housing.

For example
https://www.zillow.com/homedetails/2...27535099_zpid/
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Old 03-07-2024, 01:22 PM
 
1,537 posts, read 1,121,777 times
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Quote:
Originally Posted by BostonMike7 View Post
Close college roommate is house hunting in Houston right now. His budget is around $1mil and lets just say helping him search for a nice home has been an eye-opening experience in comparison to MA housing.

For example
https://www.zillow.com/homedetails/2...27535099_zpid/
Wonder if allowing lots of housing to be built has anything to do with affordability.

https://www.chron.com/news/article/h...s-18447141.php
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Old 03-07-2024, 01:31 PM
 
16,308 posts, read 8,126,207 times
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Quote:
Originally Posted by simplexsimon View Post
Wonder if allowing lots of housing to be built has anything to do with affordability.

https://www.chron.com/news/article/h...s-18447141.php
I don't think so. Housing in TX (and many other southern/mid western states) had always been significantly cheaper than Boston.

Look how built up CA is and it's still very expensive.

The land in TX is simply less expensive. An acre of grassland Texas is not particularly valuable....for whatever reason coastal property is seen as more valuable.

Last edited by msRB311; 03-07-2024 at 02:07 PM..
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Old 03-08-2024, 06:52 AM
 
351 posts, read 137,149 times
Reputation: 345
Quote:
Originally Posted by BostonMike7 View Post
Kinda why I want to bust my butt now, squirrel money away and get my investments in order, so I can sell my overpriced house and move to a place where I don't need to work the job I am working now if i can't find one nearby.

I'll gladly "retire" in my 50's and buy a cheaper house in a lower COL area and work at Home Depot. Hell, i spend so much time in there now I might as well get paid for it.
Similar boat here. I have parenting responsibilities for another 13-15 years or so, but by then I'll be hitting my 50s and ready to cut bait and find somewhere a bit more affordable. A part-time Home Depot-type job sounds great, actually.
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