How on earth can we get into Boston? (Cambridge, Billerica: homes, job market)

[massnative71]

Originally Posted by porterhouse

Yeah, that’s not temporarily related to the covid at all... What’s more Cambridge real estate has skyrocketed over the past 12 months in the face of the pandemic. Harvard IS hiring, perhaps unofficially but I know first hand of several external hires in the past 6 months. if anything they have a temporary headcount freeze, which makes sense for most organizations at this time. Nevertheless, if you’re suggesting the universities could negatively impact Cambridge real estate, you’ve got a vivid imagination.

I'd imagine much of their work has the potential to go remote or partially remote. That could easily negatively impact Cambridge real estate.

[r_p]

Originally Posted by massnative71

Because as desirable as it is the current prices are being artificially held up by low interest rates, foreign investors, and lack of inventory. The prices are not at all sustainable given the local median income. As more boomers downsize and sell off, it will be very interesting what happens with all that inventory when those behind them simply are unable to afford the prices they have been going for in recent years. I definitely see a big correction on the horizon.

Prices have been rising everywhere and they wont go down until the markets cool off a bit. I posted this in another thread ...

One thing people don't realize is the amount of wealth that has been created over the last decade. DJI has averaged 15%. If you did nothing and simply maxed your 401k since 2009 then you will have a cool $500k. For dual income earners that is an easy million. Those who actively invested in real estate, TSLA/BTC etc. did even better.

You will be surprised how much money younger folks have made in cryptocurrencies. And there is a real chance that BTC will hit $1 million in a few years.

[msRB311]

Im not saying the city is going to fold but higher ed is not doing great right now. They are nervous to do anything new and that includes hiring people. They are replacing people as people leave.

I still think it's too soon to tell what will happen, but for those who think the city is going to keep booming when most people aren't even back to the office and wont be for another 6 months, companies thinking of giving up their office space, people moving further out, then I'd like some of what you're smoking.

[porterhouse]

Harvard and MIT aren’t very nervous, and their employees are bidding Cambridge real estate through the roof as soon as it comes on the market. I am speaking with first hand knowledge.

Cambridge real estate will be fine long after marginal suburbs are impacted by any potential downturn.

I can’t wait for the tantrum when your employer summons you back to the office full time.

[msRB311]

I'm also speaking with first hand knowledge.

lol and we had a meeting today where we still don't know when/if we'll be back to the office, but it will not be 5 days a week. I imagine there will be LOTS of flexibility for people who dont even want to come in a few days a week.

You are coo coo if you really think after over a year of WFH that anyone will ever be in the office 5 days a week again...especially if they don't want to be. I can't wait for you to be angry when you are sitting in your office alone.

[zoeyjane]

The secret is to buy a home in Boston which has low property taxes and where you don't really have to maintain a car. Then when your area gets trendy, then sell it for a lot of money. This happened to families in Jamaica Plain, Roslindale, and Dorchester. I can tell you Hyde Park is going to go that direction, and there are plenty of beautiful houses in Hyde Park in the under $600k range. I would even point out that the Henry Grew in Hyde Park is a great school, despite whatever the current test scores say. it's demand is rising.

[porterhouse]

Companies are already compiling short a lists of employees who mistakenly think they have been as productive during the pandemic and want permanent WFH for the wrong reasons. These employees will be gradually managed out.

[msRB311]

Originally Posted by porterhouse

Companies are already compiling short a lists of employees who mistakenly think they have been as productive during the pandemic and want permanent WFH for the wrong reasons. These employees will be gradually managed out.

you better make sure you're not on the list.

and newsflash: people were WFH before the pandemic. There will just be more of it now.

You are clearly threatened by the ability to WFH.

[Shrewsburried]

Originally Posted by porterhouse

Companies are already compiling short a lists of employees who mistakenly think they have been as productive during the pandemic and want permanent WFH for the wrong reasons. These employees will be gradually managed out.

And hire who? Gen Z? Lmao ... yeah, they'll give you 50+. The era of 20-something corporate drones is dead. They won't do it without profit sharing or meaningful social impact ... can't say I blame them.

[mdovell]

If WFH was ending we would have seen it by now. How come we haven't seen office parks and buildings filled with people 65+ that are vaccinated doing work that younger people did that aren't getting vaccinated yet. Remember they did allow people back into Boston but most employers didn't go.

I just received an email of a convention I'm going to in NJ that was supposed to be in October. Delayed until April/May 2022. I think this came from the Biden administration argument that we might not reach herd immunity until Thanksgiving.

I'm fine with WFH. Gradually I'm making a home office and gym. My internet is fine, furniture is fine etc. I have additional screens if I need to use two. Laptop has a solid state drive. I even bought one of the hipster phones for a cell phone
https://images-na.ssl-images-amazon....AC_SL1500_.jpg

Yeah I'm not going out to eat down the street but I hardly did that anyway. Vending machine food? Yeah right. Maybe I'll sous vide in the background and bake bread.

People work in the private sector for the pay. If you want enlightenment and social good that's for non profits.