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Old 02-13-2021, 08:36 AM
 
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Originally Posted by yellowstatus View Post
Truthfully, it would be nice if Cambridge real estate was more affordable. It's still a good amount cheaper than the Bay Area (40%?). But the expensive real estate pushes out some interesting variety in people and local businesses. Maybe your pessimistic take is right, thought prices could very well increase another 50% from here in the next decade.
Sure, but the Bay Area gets far more VC/R&D capital so I’d say there’s very little reason for Boston to close that gap without significant change in capital allocation.

Given that Boston is already outperforming it’s size/density thanks, in part, to the MIT/Harvard/Kendall scene I don’t really see the area closing the gap.
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Old 02-13-2021, 09:50 AM
 
Location: Baltimore
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Originally Posted by r_p View Post
I disagree that wealth is in the hands of a minority. Almost 10% of households in MA are millionaire households (excluding real-estate and 401k) which is amongst the highest in the country, e.g., see https://www.kiplinger.com/slideshow/...ked/index.html
So a minority?
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Old 02-13-2021, 10:16 AM
 
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I don't really see the draw to Cambridge unless you work there.
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Old 02-13-2021, 11:44 AM
 
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Originally Posted by msRB311 View Post
I don't really see the draw to Cambridge unless you work there.
Short commute to jobs is the biggest factor. Saving 45 minutes or more of commute every working day. There are dozens of other companies in the immediate area, so this allows career growth without having to move. There's also a concentration of peers in industry, which is good for networking and mentorship.

Also good proximity to city amenities. Logan airport, museums, sporting events, ease of accessing through public transit. The ability to bike or walk instead of feeling compelled to drive.

It is expensive to buy in Cambridge, but surprisingly cheap to own after that. Property tax on a $800k unit after owner exemption is about $2,500 a year. good access to utilities, trash pickup, and other city services.
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Old 02-13-2021, 03:26 PM
 
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Originally Posted by msRB311 View Post
I don't really see the draw to Cambridge unless you work there.
The same could be said about many towns and communities based on personal preferences.
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Old 02-13-2021, 05:37 PM
 
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I guess I just mean considering how much it costs to live there it seems overrated to me. Sure it's better than a lot of other places though.
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Old 02-13-2021, 08:57 PM
 
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Originally Posted by yellowstatus View Post
Short commute to jobs is the biggest factor. Saving 45 minutes or more of commute every working day. There are dozens of other companies in the immediate area, so this allows career growth without having to move. There's also a concentration of peers in industry, which is good for networking and mentorship.

Also good proximity to city amenities. Logan airport, museums, sporting events, ease of accessing through public transit. The ability to bike or walk instead of feeling compelled to drive.

It is expensive to buy in Cambridge, but surprisingly cheap to own after that. Property tax on a $800k unit after owner exemption is about $2,500 a year. good access to utilities, trash pickup, and other city services.
Additionally, immediate access to coastal areas (e.g., the Cape/islands, RI/Block, north shore) and seasonal mountains (e.g., skiing, hiking) should not be undervalued.

I know plenty of Midwestern transplants who came for the job market, but have stayed for the larger regional access. Those with capital tend to have seasonal homes in coastal ME, ski homes in VT, beach houses, lake houses, etc. The extended landscape is quite compelling if you’re used to prairie and cornfields.
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Old 02-14-2021, 03:33 AM
 
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Originally Posted by Shrewsburried View Post
Additionally, immediate access to coastal areas (e.g., the Cape/islands, RI/Block, north shore) and seasonal mountains (e.g., skiing, hiking) should not be undervalued.

I know plenty of Midwestern transplants who came for the job market, but have stayed for the larger regional access. Those with capital tend to have seasonal homes in coastal ME, ski homes in VT, beach houses, lake houses, etc. The extended landscape is quite compelling if you’re used to prairie and cornfields.
Yep. It’s why I never left. I have always had the sea & ski lifestyle. Other than Seattle, it kind of limits where you can live in the country. For high tech, here & Seattle, pretty much. North Jersey is as far as you can plausibly go.
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Old 02-14-2021, 07:27 AM
 
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Are saying Cambridge is the only place in the area that provides easy sea/slope access? Or MA in general?

You can live pretty much anywhere in MA and have access to the beach and mountains. You don't even have to be a millionaire for it to happen
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Old 02-14-2021, 10:10 AM
 
3,539 posts, read 2,078,574 times
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Originally Posted by msRB311 View Post
Are saying Cambridge is the only place in the area that provides easy sea/slope access? Or MA in general?

You can live pretty much anywhere in MA and have access to the beach and mountains. You don't even have to be a millionaire for it to happen
Sure, but if you’re a thoracic surgeon at MGH who values urban walk ability and public transit, then Cambridge/Boston is a pretty obvious choice ... and you can easily afford it.
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