North Reading today - the good and the bad

[cb2008]

Originally Posted by Remy11

Sal,
Totally agree. North Andover is no way a town to be embarrassed about whatsoever—completely the opposite! That’s crazy talk! It’s a mixture of old and new money, has a nice downtown, all the amenities you could ask for (Bella Vita Spa is lovely) plus GREAT restaurants! The Loft, Bird & Wolf, Lots of Eats, Orzo, Tripoli’s (my favorite pizza), Perfectos for iced coffee and so much more. I’ve always really liked North Andover. It’s definitely a classy place. Oh, and one of my favorite actors—James Spader—grew up there! My only complaint is China Blossom stopped their buffet!

It is beautiful in the large rural places and has some spectacular homes. But its amenities are middling. The libraries in the two places cannot be compared. The downtown is very ordinary. If i had to make a choice i would not choose NA to live even though i can get a bigger house for the money. It matters where the community chooses to invest their funds.

[massnative71]

Originally Posted by Remy11

Funny, you can still get a home in North Reading with 2.7 acres for under 400k. It’s on realtor.com right now. There is no SFH in Newburyport anywhere near that price. You can barely even get condos for that there.

Also, according to per capita income, Newburyport ranks 39 and NR is 46, so….

https://en.m.wikipedia.org/wiki/List..._capita_income

You admitted yourself you’ve been twice. Take a drive down High St. and tell me it’s a mix. Lol!

Also, as I said earlier I’m talking about cachet and the way towns are perceived. Things that aren’t always based on the data you read about when googling a town.

Yeah I knew that it was trendy. A tourist might just focus on that angle, while missing all the "ordinary" old rental housing and such that you get away from the downtown. But if your point of focus was "outside perception", I suppose that fits. But I will emphasize again that current listing prices have absolutely nothing to do with the "reality" of how wealthy a town is. Going by that metric, Mattapan would be an affluent neighborhood based on what homes are currently going for around there. It's not. It's obviously still a ghetto.

[Remy11]

Originally Posted by massnative71

Yeah I knew that it was trendy. A tourist might just focus on that angle, while missing all the "ordinary" old rental housing and such that you get away from the downtown. But if your point of focus was "outside perception", I suppose that fits. But I will emphasize again that current listing prices have absolutely nothing to do with the "reality" of how wealthy a town is. Going by that metric, Mattapan would be an affluent neighborhood based on what homes are currently going for around there. It's not. It's obviously still a ghetto.

Massnative,
I definitely see what you’re saying. I was reading recently that Jamaica Plain was one of the most expensive and desirable neighborhoods in Boston. I’m sure we both remember a very different JP!

I have another friend who does well, no kids, and is very into status and name brands. Up until recently, she was living in a new townhome in Dorchester and was telling me parts of that are on the up and up. I couldn’t believe it! And she’s someone who has lived in the back bay and knows all about what’s considered cool in Boston.

I’m convinced ALL of Massachusetts is coming close to becoming unaffordable. I know Lawrence has a long way to go, but I’m curious if I’ll see that gentrified in my lifetime.

[mwj119]

Originally Posted by massnative71

If you went by current listing prices in 2021 every place in MA would appear wealthy, but that doesn't tell you who is currently residing there. This forum often has a hard time understanding that.


Per latest C-D numbers which were 2019, here is the median HHI for the following towns:


North Reading: $135K
North Andover: $118K
Newburyport: $116K


Both North Reading and North Andover are wealthier than Newburyport (according to those numbers), so I guess my impression was not far off after all.

Your previous post on this topic was accurate - Newburyport does operate as a small city, just as say Newton operates as a city. Neither will have eye popping income levels, compared to proper suburbs nearby. But we all know that to buy in these cities, you have to be very well off.

I'm not prepared to call Brookline anything other than wealthy, just because median income shows at $117k. Does it have a lot of studio/1br/2br rentals and renters? Definitely. But it's also one of the most elite and expensive places to purchase a home in the United States.

[GeoffD]

Originally Posted by Remy11

I’m convinced ALL of Massachusetts is coming close to becoming unaffordable. I know Lawrence has a long way to go, but I’m curious if I’ll see that gentrified in my lifetime.

As long as it's not vacation home locations, as soon as you get beyond rational commuting distance to the Boston job market, prices drop considerably. As mortgage rates creep up, lots of those places are going to correct downwards.


I'm expecting my West Portugal shack to exactly track interest rates. The local economy is a mess and you can't car commute during rush hour. When commuter rail shows up, it's likely to be 90 minutes so that won't help much.

[Remy11]

Originally Posted by GeoffD

As long as it's not vacation home locations, as soon as you get beyond rational commuting distance to the Boston job market, prices drop considerably. As mortgage rates creep up, lots of those places are going to correct downwards.


I'm expecting my West Portugal shack to exactly track interest rates. The local economy is a mess and you can't car commute during rush hour. When commuter rail shows up, it's likely to be 90 minutes so that won't help much.

GeoffD,
Yes, good call on my statement more pertaining to Mass. towns that are in the rational commuting distance to Boston. That’s exactly what I was referring to as I often forget about our friends out west towards UMass Amherst, Springfield, and those close to the VT and NY borders.

Don’t get me going on the commute. I see so many appealing jobs listed in both Boston and along the 128 belt, but I refuse to waste my life sitting in the car for 3-4 hours each day. I did those commutes in the past when I was first starting my career as I felt I had to put my time in, but I swore I would never do it again once I got some experience under my belt. However, I still know plenty of people who choose to do it. I know I’m probably sacrificing a higher paying job, but it’s just not worth it to me.