Why is the housing stock so crappy in Boston metro? (Wellesley: renting, lawyers)

[bugelrex]

Another reason for the poor condition is the strict Permitting process some towns have. Just renovating a bathroom can snowball into major $$. Things such as rewiring the whole house because the bathroom electric needs to up to code, changing major plumbing lines because you cant fit onto the old ones..

even a simple painting job escalates into $$ because special equipment is needed for lead paint.. and let now forget the major increase in property tax due to "house improvements"..

[Duderino]

I think there's a simple dollars and cents factor here too. As of 2012, MA ranked 10th in the US for the share of low-to-moderate income working households who are "severely" cost-burdened by housing (21%), defined as spending at least half of your income on home-related costs.



NHC's Open House Blog: Mapping housing affordability, a grim picture for renters

I can only imagine it's gotten worse in the 6 years since this data was released. And when you're "house poor," renos on your home clearly aren't going to be a priority. Especially when it's a sellers' market.

[mdovell]

Another factor and I might be incorrect on his but I was under the impression that Massachusetts you cannot do your own Plumbing work unless it's exposed such as a sink Basin or sink. That doing anything in walls ceilings and Floors require an actual plumber.

There is space in the state you just have to move further out whether it's the 128 belt before 95 valve Worcester or even Springfield. According to Zillow houses in Springfield have gone up 12% over the year last year. Worcester has seen significant development Hudson Mass comes to mind immediately. I've read and Lawrence that prices are going up significantly. Sometimes money just goes further out if somebody wants a certain style of an apartment or a lifestyle they'll go to whatever means to get to that.

Some places in the state feel like other states. Barre for example looks quite a bit like Vermont but that's because it's by the Quabbin and easily a half hour from any major road.

[robr2]

Originally Posted by mdovell

Another factor and I might be incorrect on his but I was under the impression that Massachusetts you cannot do your own Plumbing work unless it's exposed such as a sink Basin or sink. That doing anything in walls ceilings and Floors require an actual plumber.

Anything that touches water has to be done by a plumber in MA. Of course, that code is broken everyday and most inspectors don't want to deal with every single faucet or toilet change.

[r_p]

Originally Posted by Shrewsburried

Have you seen the home prices in towns like Shrewsbury and Natick? I'd argue the latter has already happened. The cities themselves may still be relatively affordable, but the better 'burbs of these second tier cities are already far above national averages.

By a long shot. The median asking price of a SFH (3-4 bed and 1.25+ bath) in Natick right now is 840K.

[thenewtexan]

Originally Posted by linus1220

The housing situation in metros with lots of culture and amenities is really bad - and I suspect this is largely because of regulations as opposed to the fact that they're desirable. Based on net migration statistics, Sunbelt cities are far more desirable at this point than northern metros and their housing supplies are near perfectly elastic over time.

Sucks to be honest. I would move to the Bay Area, NYC or Boston after graduating, but I honestly can't see myself establishing a comfortable living situation in any of those places despite the fact that I will likely have an above average income. Oh well. Atlanta, NC and TX aren't all that bad.

No, they're not! Especially when a large portion of the COL in Texas is your property tax bill...

[skeddy]

Salaries in Boston metro area are high. There are a lot of people making a lot of money who can afford a "livable" commute to work. If you're not making a 6 figure salary you're out of luck. That's just the way it is, it won't change.

[mdovell]

Originally Posted by skeddy

Salaries in Boston metro area are high. There are a lot of people making a lot of money who can afford a "livable" commute to work. If you're not making a 6 figure salary you're out of luck. That's just the way it is, it won't change.

Right but is it sustainable?

[timberline742]

Originally Posted by mdovell

Right but is it sustainable?

Very, yes. For decades anyway.

[Boston_Burbs]

Originally Posted by mdovell

Right but is it sustainable?

Yes, especially with college graduates more and more likely to marry each other. No one marries between classes anymore. Couples meet in college or grad school and double up on their white collar incomes. I have couple friends who surpassed $200k household income in their late 20s and these are not Dr.'s or lawyers. Just Electrical/computer/mechanical engineers that met at mid level universities.

I will say though, the ability to work somewhat remotely will help the housing market. If you only have to go into work twice a week AND work is an office park off of 495, it helps ease the burden inside 495.