2023 Real Estate Observations (Boston, Saugus: disability, stairs, numbers)

[msRB311]

What it takes to buy a starter home around here:

https://www.boston.com/real-estate/h...n=bdc:push:web

[newenglandgal123]

Originally Posted by msRB311

What it takes to buy a starter home around here:

https://www.boston.com/real-estate/h...n=bdc:push:web

The fact that anyone needs to be making $209K to afford a 2 bedroom starter home is outrageous. Especially, since it says the median income in this state is $104K which means half the people here are making less than that and half are making above that.

[charolastra00]

Sent this to the family members who call me spoiled and entitled when I say that I do not feel that I can afford a starter home on a 175K salary. Condos really aren't any better once you throw in HOAs.

[aboucher33]

Originally Posted by charolastra00

Sent this to the family members who call me spoiled and entitled when I say that I do not feel that I can afford a starter home on a 175K salary. Condos really aren't any better once you throw in HOAs.

Unless family and friends have been involved in the housing market in the past few years they just simply don't get it. My father in law last year thought we were crazy bidding over asking lol

[simplexsimon]

Originally Posted by newenglandgal123

The fact that anyone needs to be making $209K to afford a 2 bedroom starter home is outrageous. Especially, since it says the median income in this state is $104K which means half the people here are making less than that and half are making above that.

It's not good and I believe the author exaggerates how much better the alternatives are.

"Indeed, moving may be a great strategy. According to Realtor.com’s data, while it would take a household income of more than $200,000 a year to afford a starter home in Greater Boston, you could pick up a two-bedroom starter in the Portland, Maine, metro area with an income of $150,840. Or, if you prefer the small-town ambiance of Providence, you’ll need to earn just $120,360 a year to afford a two-bedroom starter home there."

How does the median income of Portland, ME compare to $150k or the median income of Providence, RI compare to $120k?

[MtPleasantDream]

A friend purchased a one-bedroom apartment in New York (Queens), and that cost over $900k.
Boston still has space to “improve” lol

[BostonMike7]

What do they define as a starter home? 2BR at 750K in greater boston?


I mean if you lower expectations a bit, there are cheaper homes to live inside 95/128.

https://www.redfin.com/MA/Saugus/3-C...6/home/8394409

[msRB311]

Yes, as usual it's the desirable places that are out of reach for many. If people want to stay in the area they will have to adjust what will work for them. Hard to do for many of the snobs with caviar taste on a beer budget here.

[Southshorebound]

Side note: “ or, if you prefer the small-town ambiance of Providence” ?!

Glad to see the globe using a freelance journalist based out of Fort Lauderdale to cover the local real estate market. Reminds me of why I dropped my subscription.

[newenglandgal123]

Originally Posted by BostonMike7

What do they define as a starter home? 2BR at 750K in greater boston?


I mean if you lower expectations a bit, there are cheaper homes to live inside 95/128.

https://www.redfin.com/MA/Saugus/3-C...6/home/8394409

Did you check out the street view on that place?! Can you imagine how awful it would be trudging down that steep, snow covered hill to get to your car in the winter?