2023 Real Estate Observations (Boston, Brockton, Weymouth: crime, university, statistics)

[newenglandgal123]

Originally Posted by msRB311

Wow i guess envy was the wrong word to use it, let me put it another way. If that 700k Tx house was in MA, it would be at least 2 million.

Again the rudeness from people about others being annoyed at the cost of MA housing is just odd. Why don't you go talk to people on Melnea Cass and see how they feel about it? I'm glad so many people are happy here about how much it costs to rent or buy here. Keep on smiling!

Right, and who really wants to have to spend $2million to get a nice house?! Lots of people in MA are chock full of wealth and apparently are happy as a clam to pay $300K over list on a home in a place like Duxbury (from my example the other day)! I'm always stunned when I see those over listers. Sorry, but I don't have that free spirited $$ to throw around like it's confetti to the tune of an extra 300 hundred grand just to 'win' a bid on a house in the great state of MA! I'm just happy I've been able to stay on the property ladder in my modest 'starter' homes in decent enough towns.

[johngolf]

Originally Posted by msRB311

If I didn't have ties to MA I perhaps would move somewhere else. I'm actually happy in the town I'm in now, very happy in my house so i don't REALLY want to move but it just amazes me what 700k can get you in other states.

These threads seem to lead to lots of negativity, but the fact is that many people in MA are not happy with the housing market.

https://www.homes.com/property/729-o...3eb91dqxvw9tj/

[yesmaybe]

Originally Posted by newenglandgal123

I'm seeing a good amount available for 'cheap' (relative to east of 495 belt prices) in western mass....

As an example, Lexington (Columbia) SC:

Yeah... but where would you work.

[msRB311]

Originally Posted by newenglandgal123

Right, and who really wants to have to spend $2million to get a nice house?! Lots of people in MA are chock full of wealth and apparently are happy as a clam to pay $300K over list on a home in a place like Duxbury (from my example the other day)! I'm always stunned when I see those over listers. Sorry, but I don't have that free spirited $$ to throw around like it's confetti to the tune of an extra 300 hundred grand just to 'win' a bid on a house in the great state of MA! I'm just happy I've been able to stay in the property ladder in my modest 'starter' homes in decent enough towns.

I think the bigger picture thing is most people in MA don't have 2 million to spend on a house. For those people that DO have 2 million to spend I'm sure they wish they were getting more absolutely! Maybe the people that spend 1,800,000 on that 1,500,000 listed Dux house had a budget of 2mil and felt like they made out well. We're all aware that there are some very wealthy people in MA but it's simply not everyone...it does feel like these huge salaried people have made the real estate market crappy for everyone else in some ways.

It would just be nice if there was more of a happy medium but there isn't these days.

I do know successful people who left the area because they were unhappy with what they could get for a home. One of my friends was making 200k as a CFO in 2015 at around 33 - she and her husband left, they felt like they were doing well in life and were disappointed with what their high salary could get them. They simply wanted a newer house that wasn't going to eat up most of their earnings. They weren't from here either so that helped. But not everyone does put up with the housing costs in MA - even the higher earning folks.

[msRB311]

Originally Posted by yesmaybe

yeah... But where would you work.

remote.

[newenglandgal123]

Originally Posted by yesmaybe

Yeah... but where would you work.

Not sure on physical work locations out there but remote is always an option. My reply was in response to the two posters who think there are lots of folks who want to live in Western MA and I said that they luck out and get less expensive houses. The other one said not so, then I provided examples to show it is so...the first cape example would easily go for around $550K+ in a town like N.Reading or whatever other 95N town you choose. Out in W. Mass $324K!

[newenglandgal123]

Originally Posted by msRB311

I think the bigger picture thing is most people in MA don't have 2 million to spend on a house. For those people that DO have 2 million to spend I'm sure they wish they were getting more absolutely! Maybe the people that spend 1,800,000 on that 1,500,000 listed Dux house had a budget of 2mil and felt like they made out well. We're all aware that there are some very wealthy people in MA but it's simply not everyone...it does feel like these huge salaried people have made the real estate market crappy for everyone else in some ways.

It would just be nice if there was more of a happy medium but there isn't these days.

I do know successful people who left the area because they were unhappy with what they could get for a home. One of my friends was making 200k as a CFO in 2015 at around 33 - she and her husband left, they felt like they were doing well in life and were disappointed with what their high salary could get them. They simply wanted a newer house that wasn't going to eat up most of their earnings. They weren't from here either so that helped. But not everyone does put up with the housing costs in MA - even the higher earning folks.

You know it's pretty bad when someone making $200K back in 2015 felt that way!

[msRB311]

Originally Posted by newenglandgal123

You know it's pretty bad when someone making $200K back in 2015 felt that way!

yep.

[jayrandom]

Originally Posted by newenglandgal123

Right, and who really wants to have to spend $2million to get a nice house?! Lots of people in MA are chock full of wealth and apparently are happy as a clam to pay $300K over list on a home in a place like Duxbury (from my example the other day)! I'm always stunned when I see those over listers. Sorry, but I don't have that free spirited $$ to throw around like it's confetti to the tune of an extra 300 hundred grand just to 'win' a bid on a house in the great state of MA! I'm just happy I've been able to stay on the property ladder in my modest 'starter' homes in decent enough towns.

No one is happy to have to pay an extra $300k for something, but they understand the alternative is not getting the thing. This is what happens when demand exceeds supply. Prices go up. They go up until demand drops enough that it meets supply. You won’t get people paying outrageous unless the alternative is not getting anything. The person only willing to pay $275k more got nothing.

[msRB311]

Originally Posted by jayrandom

No one is happy to have to pay an extra $300k for something, but they understand the alternative is not getting the thing. This is what happens when demand exceeds supply. Prices go up. They go up until demand drops enough that it meets supply. You won’t get people paying outrageous unless the alternative is not getting anything. The person only willing to pay $275k more got nothing.

The person who didn't want to pay an extra 275k on that house maybe didn't see the value of that particular house. They perhaps had 2.5M to spend. I dont so much worry about the people with the 1.5M budgets. It's the people who barely have enough to buy much of anything i feel bad for. Or the people spending at the top of their 800k budget who have kids and really can't skimp out because school.