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Will the Boston Bubble ever burst ???

 
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HotAirBalloon
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PostPosted: Thu Dec 27, 2007 6:53 am GMT    Post subject: Will the Boston Bubble ever burst ??? Reply with quote
Quote:
NEW YORK (AP) - U.S. home prices fell in October for the 10th consecutive month, posting their largest monthly drop since early 1991.

The record 6.7% decline in the Standard & Poor's/Case-Shiller home price index also marked the 23rd consecutive month prices either grew more slowly or declined.

In the Boston area, prices were down by 3.6%.


I find it amazing how resilent the Boston Area Real Estate market is .

Many economist and experts like myself Wink
continue to predict a major decline in
Boston area real estate prices .
Somehow it just hasnt happened yet.

Can Boston somehow escape the Bubble Bursting Question

I just cant see Boston escaping forever , yet so far , it has
.
.
.
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admin
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Joined: 14 Jul 2005
Posts: 1826
Location: Greater Boston
PostPosted: Thu Dec 27, 2007 3:08 pm GMT    Post subject: Reply with quote
The latest prices for Massachusetts single family homes from the MAR are down 18.49% from the peak, in inflation adjusted terms. S&P/Case-Shiller futures for Boston have priced in additional, substantial declines. I don't think that Boston has escaped, this is just playing out in slow motion.

- admin
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PostPosted: Fri Dec 28, 2007 1:12 pm GMT    Post subject: Reply with quote
Boston is more of a case of the air leaking out of the Balloon

than that of a Bubble Bursting

It will be interesting to see what areas of Massachusetts
see a quick meltdown in 2008 versus a recovery (doubtful)

There are still many a Town and City in Massachusetts
where Real Estate prices are untouchable by mere mortals. Rolling Eyes
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