How on earth can we get into Boston? (Cambridge: median income, living)

[msRB311]

The WFH date keeps getting pushed up. It was Dec 2020, now it's June 2021. I know a few who were told they'd go back last June, that never happened. and yes some offices have sold off their space months ago. It's happening...not sure why anyone would be mad at someone who wants to keep WFH, lol

https://www.cnet.com/news/spotify-wi...fter-pandemic/

[Shrewsburried]

Originally Posted by mdovell

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

You underestimate the rampant nihilism amongst the younger educated class and what does and doesn’t motivate them. They’ll work for pay, but without some compelling technology, societal impact, and equity narrative good f’ing luck getting them to put in the hours or stay for more than 18 months.

[Boston Shudra]

Originally Posted by msRB311

As long as the Boston area remain desirable the prices are not going to go down. Why would they ?

Lots of new housing gets built? Or something changes with the state's tax system?

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.

Good points!

Originally Posted by r_p

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.

Just because there are people who can afford it, doesn't mean they should have to. While I'm no millionaire, I believe that if I was one I'd still prefer to pay $500k instead of $800k for the same home. Everyone benefits from lower prices except those who already own and think of housing as stock.

[massnative71]

Originally Posted by Shrewsburried

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.

Loyalty is gone, but that goes both ways. Corporations could care less if you refuse to come into the office, will just say "see ya" and hire some kid off the streets who stays 18 months. Repeat repeat.

[massnative71]

Originally Posted by mdovell

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

Spot on. I get the sense that some people here are too young to understand how things go during an actual recession (YES FOLKS THAT IS COMING). "Huh? You not only want a job but are also demanding WFH, profit sharing??? Hahahahahaha!"

[Shrewsburried]

Originally Posted by massnative71

Spot on. I get the sense that some people here are too young to understand how things go during an actual recession (YES FOLKS THAT IS COMING). "Huh? You not only want a job but are also demanding WFH, profit sharing??? Hahahahahaha!"

Perhaps for Gen-Z, but for millennials we already experienced the ‘Great Recession’ and that was, generally speaking, quite formative.

Because of that experience I demand loyalty or profit sharing from my employers. If the economy retracts I’ll obviously have to be less choosey to pay the bills, but when demand returns ... see ya!

When you watch loyal Boomers (the institutional knowledge) get the axe in favor of cheap millennial labor, you tend to project out and realize you’ll be in the same position in the name of share holder value.

[massnative71]

Originally Posted by Shrewsburried

Perhaps for Gen-Z, but for millennials we already experienced the ‘Great Recession’ and that was, generally speaking, quite formative.

Because of that experience I demand loyalty or profit sharing from my employers. If the economy retracts I’ll obviously have to be less choosey to pay the bills, but when demand returns ... see ya!

When you watch loyal Boomers (the institutional knowledge) get the axe in favor of cheap millennial labor, you tend to project out and realize you’ll be in the same position in the name of share holder value.

I don't like using generational labels, because I honestly do not think the youngest of the "millennials" did get a real taste of the Great Recession any more than "Z" did. Likewise, the oldest of that category might have hit the job market during that sweet spot around 2004-2007 and also missed the 2001-2003ish recession that the tail end of "Gen X" had to deal with. Of course it varies by field. But while you might have been speaking in a longer term sense, I was more focused on the nearer future when I said that. And as far as that is concerned, I do not believe $hit has truly hit the fan yet. It's going to be ugly for many, and many employers are going to have the upper hand like some have never seen before. Expecting too many perks (again I'm talking about the near term), you will be in for a rude awakening.

[msRB311]

I think it's the older people who are against WFH.

[bostongymjunkie]

Originally Posted by massnative71

I don't like using generational labels, because I honestly do not think the youngest of the "millennials" did get a real taste of the Great Recession any more than "Z" did. Likewise, the oldest of that category might have hit the job market during that sweet spot around 2004-2007 and also missed the 2001-2003ish recession that the tail end of "Gen X" had to deal with.L Of course it varies by field. But while you might have been speaking in a longer term sense, I was more focused on the nearer future when I said that. And as far as that is concerned, I do not believe $hit has truly hit the fan yet. It's going to be ugly for many, and many employers are going to have the upper hand like some have never seen before. Expecting too many perks (again I'm talking about the near term), you will be in for a rude awakening.

Ain't that the truth. We've been off Bretton Woods for a few decades now. The current system is unsustainable over the long run. House of cards.

[robr2]

Billerica is doable at $550K. Commute to Cambridge in a hour is achieveable.

Check these.

In 3-5 years, these may be $650K.