2022 Real Estate Observations (Boston: cars, rating, businesses)

[massnative71]

Originally Posted by msRB311

I think Weymouth gets a bad rep (particularly on this forum as it's not Lexington, Wellesley or Newton) but it isnt THAT terrible. It has some less than desirable areas and people...but it also has some nice very parts. I know some people that live there and use the schools and they're not like living in a trailer park or shooting up heroin as some here might think.

MA has changed and continues to change. Look at Dorchester. If you told me 10 years ago that Dorchester would be unaffordable for many I wouldn't and be a desirable I wouldn't have believed you. I think if people want to live here they're going to need to be more open minded about towns that aren't top 10 school towns.

I get your point, but you have to draw the line somewhere. Another poster here likes to use cars to make analogies. Consider Weymouth a new Hyundai. Totally functional and reliable, but not something people were ever willing to pay a premium for. Hingham is a Bentley. The epitome of status and luxury, it comes at a hefty premium. Fast forward a few years, Hyundais are now priced up there with Teslas and a Bentley is still a Bentley. While it's still a fine car, demand for a Hyundaii has now dropped substantially. The modest buyer is now totally priced out of the new car market, while the affluent buyer still has Teslas, Lexuses and BMWs to pick from along with the Hyundai. And if the latter are a few thousand more, they will come up with the difference.

[matrix5k]

Originally Posted by msRB311

ha. well that's certainly taking advantage...however when she was in the office maybe she had little to do? I couldn't imagine being so blatant about it.

Yep same amount of work as before, only they don't have to drive into Boston and sit in the office all day.

The drive thru line at McDonald's and Chik-A-Filet wrap around the restaurants.

I have many neighbors whose tweens became teens, so my neighborhood has more drivers now. I imagine the rest of the world has more drivers now too, it's just a result of higher population.

[massnative71]

Originally Posted by bricka

correct - all we know is they paid that price 3 days ago

even if they had a rate from 2 months ago the lowest it could be is around ~5%, making the monthly payment on the cheaper of those 2 houses about $3,100 a month. and that's a conservative estimate.

Still, I can very easily see the difference of $3,100 and $3,500 as breaking the budget of MANY.

[bricka]

Originally Posted by massnative71

I get your point, but you have to draw the line somewhere. Another poster here likes to use cars to make analogies. Consider Weymouth a new Hyundai. Totally functional and reliable, but not something people were ever willing to pay a premium for. Hingham is a Bentley. The epitome of status and luxury, it comes at a hefty premium. Fast forward a few years, Hyundais are now priced up there with Teslas and a Bentley is still a Bentley. While it's still a fine car, demand for a Hyundaii has now dropped substantially. The modest buyer is now totally priced out of the new car market, while the affluent buyer still has Teslas, Lexuses and BMWs to pick from along with the Hyundai. And if they are a few thousand more, they will come up with the difference.

not sure i follow - which town is the tesla that now costs the same as weymouth?

[msRB311]

Originally Posted by massnative71

I get your point, but you have to draw the line somewhere. Another poster here likes to use cars to make analogies. Consider Weymouth a new Hyundai. Totally functional and reliable, but not something people were ever willing to pay a premium for. Hingham is a Bentley. The epitome of status and luxury, it comes at a hefty premium. Fast forward a few years, Hyundais are now priced up there with Teslas and a Bentley is still a Bentley. While it's still a fine car, demand for a Hyundaii has now dropped substantially. The modest buyer is now totally priced out of the new car market, while the affluent buyer still has Teslas, Lexuses and BMWs to pick from along with the Hyundai. And if they are a few thousand more, they will come up with the difference.

I totally agree with you and share the same sentiment. It's absurd how expensive it has become to live here but people keep on paying for it. Eventually there is going to be less turnover and people not being able to afford to live wherever they want or not having parents to give them a down payment. Those people are the ones who will have to settle on a place like weymouth if they want to stay here. I think Hingham has also become quite a bit more expensive. So yes the Bentley is still the Bentley but the Bentley has increased in price.

[msRB311]

Originally Posted by matrix5k

Yep same amount of work as before, only they don't have to drive into Boston and sit in the office all day.

The drive thru line at McDonald's and Chik-A-Filet wrap around the restaurants.

I have many neighbors whose tweens became teens, so my neighborhood has more drivers now. I imagine the rest of the world has more drivers now too, it's just a result of higher population.

Yes it's annoying the amount of cars on the road. It's like anyone of driving age has a car plus all the rideshare companies giving people rides.

[massnative71]

Originally Posted by bricka

not sure i follow - which town is the tesla that now costs the same as weymouth?

IDK, but I think you would be able to get into say...Foxboro for a few more dollars. Teslas have gone up a tad as well, it's just the disparity between utility and luxury has become so blurred.

[bricka]

Originally Posted by massnative71

IDK, but I think you would be able to get into say...Foxboro for a few more dollars. Teslas have gone up a tad as well, it's just the disparity between utility and luxury has become so blurred.

the analogy makes sense when you realize they stopped making cars period, but people still need them for jobs. with a finite amount of cars (finite amount of real estate close to boston) eventually the need for a car will become more important than what make the car is. in a world where they stop making cars, simply owning a functioning car is seen as a luxury

[massnative71]

Originally Posted by bricka

the analogy makes sense when you realize they stopped making cars period, but people still need them for jobs. with a finite amount of cars (finite amount of real estate close to boston) eventually the need for a car will become more important than what make the car is. in a world where they stop making cars, simply owning a functioning car is seen as a luxury

No because there is still the option of renting (housing) or leasing a car (or carpooling), but what we are both saying of course depends on many "ifs" that only time will tell.

[msRB311]

Most people want a car. Most people want a house...