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Old 08-17-2023, 03:54 PM
 
Location: Westwood, MA
5,037 posts, read 6,923,971 times
Reputation: 5961

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Quote:
Originally Posted by matrix5k View Post
Nobody cares about whatever property line you guys are talking about.
Realistically no one cares about any of this.

There aren’t any more people looking to move because either you’ve got a 2.5% mortgage you can’t leave or you’re renting and prices are sky high AND mortgage rates are in the 7s so even “starter” homes are unaffordable. Everyone is basically stuck where they are until something changed.

I’m not an economist, but I would have guessed the prices would have fallen with increasing mortgage costs. At least for now but the opposite seems to have happened. It’s insane.
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Old 08-17-2023, 04:08 PM
 
16,398 posts, read 8,198,277 times
Reputation: 11383
Biden's America.
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Old 08-17-2023, 07:44 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by newenglandgal123 View Post
I couldn't imagine taking out a jumbo right now at 7.15%....talk about feeling like you're a slave to corporate America to keep that mcmansion roof over your head!
What's crazy is the average mortgage rate for the past 30 years is 7.74 percent.
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Old 08-17-2023, 08:03 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by jayrandom View Post
Realistically no one cares about any of this.

There aren’t any more people looking to move because either you’ve got a 2.5% mortgage you can’t leave or you’re renting and prices are sky high AND mortgage rates are in the 7s so even “starter” homes are unaffordable. Everyone is basically stuck where they are until something changed.

I’m not an economist, but I would have guessed the prices would have fallen with increasing mortgage costs. At least for now but the opposite seems to have happened. It’s insane.
I wonder how much higher rent will go. At some point tenant's paychecks won't be enough.
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Old 08-17-2023, 08:03 PM
 
3,620 posts, read 1,844,995 times
Reputation: 1508
Quote:
Originally Posted by matrix5k View Post
What's crazy is the average mortgage rate for the past 30 years is 7.74 percent.
Maybe, but the average house price has certainly skyrocketed to the point we're becoming a nation of forever renters since home ownership is so out of reach for so many now (minus the lucky ones who got in earlier before this craziness).
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Old 08-18-2023, 11:35 AM
 
15,797 posts, read 20,504,199 times
Reputation: 20974
Quote:
Originally Posted by msRB311 View Post
Biden's America.

I have a feeling it would be the same no matter who was in office.
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Old 08-18-2023, 12:27 PM
 
2,710 posts, read 1,733,872 times
Reputation: 1319
Quote:
Originally Posted by BostonMike7 View Post
I have a feeling it would be the same no matter who was in office.
Correct. The president is just a puppet and has little control over the stock or real estate market.
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Old 08-19-2023, 04:46 PM
 
2,352 posts, read 1,780,522 times
Reputation: 700
https://www.redfin.com/MA/Arlington/...6/home/8453259

How about this place in Arlington. There's something... strange... about the exterior. Maybe that's why it's at 105 DOM? 1.5 mill is a lot of money of course... but this is a primo location so that doesn't bat an eye in today's market.
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Old 08-19-2023, 05:45 PM
 
Location: The ghetto
17,737 posts, read 9,192,519 times
Reputation: 13327
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Arlington/...6/home/8453259

How about this place in Arlington. There's something... strange... about the exterior. Maybe that's why it's at 105 DOM? 1.5 mill is a lot of money of course... but this is a primo location so that doesn't bat an eye in today's market.
Too many (or too few) windows and they're spaced weird. Looks like a dump from the outside, IMO.
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Old 08-19-2023, 06:21 PM
 
3,620 posts, read 1,844,995 times
Reputation: 1508
Quote:
Originally Posted by yesmaybe View Post
https://www.redfin.com/MA/Arlington/...6/home/8453259

How about this place in Arlington. There's something... strange... about the exterior. Maybe that's why it's at 105 DOM? 1.5 mill is a lot of money of course... but this is a primo location so that doesn't bat an eye in today's market.
Wow, looks like a multifamily or some sort of condo complex that you'd see someplace like Fitchburg or Weymouth.
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