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Old 03-06-2022, 07:27 PM
 
23,577 posts, read 18,730,403 times
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Quote:
Originally Posted by yesmaybe View Post
I was thinking as an example 495 towns. At 500k you are going to be pushing $3k for a mortgage even with 20% down at 5% rates. A 110 HHI isn't getting approved with actual mortgage standards. Today? No problem. So to even get anywhere near what people are paying right now you'd have to attract someone making way more than the towns HHI. That seems like a tough sell for a bland average house with a super long commute.

Using your 495 example; the wealthier places like Hopkinton, Southborough, Bolton and Boxborough will always have enough 200K/year households looking to buy in those towns. Marlborough, Milford, Bellingham, Taunton and Middleborough...not a chance.
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