MA Spring RE will start early & be flooded with inventory (Boston: foreclose, cheap house)

[robr2]

Originally Posted by Partial Observer

Yeah, he sounds like the lovechild of a Spartan and a Buddhist monk. If your definition of "the simple life" includes nice vacations, big German leases, and sailboats, then what's the next rung on the ladder -- Jordan Belfort?

Excuse me - I meant a simple life in comparison to others that earn $500K+ a year. There is no $2 million house, no vacation home(s), no 30' powerboat, no ostentatious life. He is in a 3 BR cape that was bought 25 years ago and has a Sunfish. His yearly vacation is taking the family away for low key trip - no junkets to Austria to ski or glamping in Africa. When his kids began driving he bought a used Subaru for them. Yeah the German lease is his biggest indulgence. His biggest expense now is probably college tuition for his kids.

[LeavingMA]

Originally Posted by jan0105

Yeah. Lots of drug dealers buying up the housing stock in Lexington and Dover.

You have to launder the money some how

[AtkinsonDan]

Originally Posted by LeavingMA

You have to launder the money some how

That is what these people do not understand. If getting caught was guaranteed not to happen, then illegal activities would be far more lucrative than legal W-2 / 1099 work because the illegal activities do not have to conform to taxes and regulations.

Those people into smuggling and the higher echelons of the drug trade possess big bucks and they are not going to settle for living in a ****hole or the gateway cities. Those places are for the low level street dealers. Jan0105 and Timberline cannot tell the difference between these upper level criminals and normal upper class people (and nor can I) because they launder their illicit gains on nice houses, nice cars, jewelry and nice clothes and appear just like the 5%ers on the outside.

[LeavingMA]

Originally Posted by AtkinsonDan

That is what these people do not understand. If getting caught was guaranteed not to happen, then illegal activities would be far more lucrative than legal W-2 / 1099 work because the illegal activities do not have to conform to taxes and regulations.

Those people into smuggling and the higher echelons of the drug trade possess big bucks and they are not going to settle for living in a ****hole or the gateway cities. Those places are for the low level street dealers. Jan1015 and Timberline cannot tell the difference between these upper level criminals and normal upper class people (and nor can I) because they launder their illicit gains on nice houses, nice cars, jewelry and nice clothes and appear just like the 5%ers on the outside.

First, my comment was just a joke.

Second, I agree with you for the most part...many big time drug dealers you won't even know they are drug dealers and they don't necessarily live in fancy homes. They live in pretty middle class neighborhoods and could be right next to you and you wouldn't even know it.

[AtkinsonDan]

Originally Posted by LeavingMA

Second, I agree with you for the most part...many big time drug dealers you won't even know they are drug dealers and they don't necessarily live in fancy homes. They live in pretty middle class neighborhoods and could be right next to you and you wouldn't even know it.

And that is the point I have been trying to drive home. People rarely know their neighbors very well these days, especially in rat-race communities.

[Whatsnext75]

There arent a whole lot of pub and pizza places left that are owned by Irish and Italians. There's a few but these days places like that are mainly owned by Brazilians, asians, middle eastern folks.

[timberline742]

Originally Posted by AtkinsonDan

That is what these people do not understand. If getting caught was guaranteed not to happen, then illegal activities would be far more lucrative than legal W-2 / 1099 work because the illegal activities do not have to conform to taxes and regulations.

Those people into smuggling and the higher echelons of the drug trade possess big bucks and they are not going to settle for living in a ****hole or the gateway cities. Those places are for the low level street dealers. Jan0105 and Timberline cannot tell the difference between these upper level criminals and normal upper class people (and nor can I) because they launder their illicit gains on nice houses, nice cars, jewelry and nice clothes and appear just like the 5%ers on the outside.

Riiiight. There are enough of these high level dealers to effect the real estate market. Got it. Hey, its like every third house is either a dealer or a doc engaged in medicaid fraud.

Cuckoo cuckoo.

[Steephill2]

On a separate note, the borrowers behind the 40k or so homes that got foreclosure deeds in MA in 08 and 09 may very well be back in the game and qualify for loans after a seven year hiatus. So the people who gambled by overstretching and lost supposedly get to gamble again. Wow.

[Dm84]

Originally Posted by Steephill2

On a separate note, the borrowers behind the 40k or so homes that got foreclosure deeds in MA in 08 and 09 may very well be back in the game and qualify for loans after a seven year hiatus. So the people who gambled by overstretching and lost supposedly get to gamble again. Wow.

You're assuming all of them walked away unscathed beyond the hit to their credit report. I'm not so sure that's the case.

[jan0105]

Originally Posted by timberline742

Riiiight. There are enough of these high level dealers to effect the real estate market. Got it. Hey, its like every third house is either a dealer or a doc engaged in medicaid fraud.

Cuckoo cuckoo.

Exactly. I'm not saying all drug dealers sell weed on the corner and live in Roxbury. I'm saying this isn't Miami in the 1980s. The lack of RE inventory in the Boston area isn't due to drug lords buying up houses in the desirable locations.

(I couldn't even type that with a straight face.)