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Description: Globe: growing number of first-time buyers jumping into the housing market
URL: http://www.boston.com/realestate/news/articles/2009/04/09/new_to_the_market/
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2284

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[Brian C]

You would think the idiots who overpaid back in 2005, would smarten everyone else coming into the market today. But after reading what these couples did, makes me think there's still pain to deal with.

[balor123]

When it comes to the Greater Boston Area, journalists are still living in bubble times. One of the FTHB they cited bought a house in Tyngsborough! Yeah houses sell cheap in Montana too but only in bubble times was Montana considered a suburb of Boston. Mattapan is closer but it's not close nor is it a good location. So the only properties which are bargains (read: fairly priced) are junk. That junk is cheap should surprise no one. That guy is a resident psychiatrist by the way. In 3 - 5 years he'll be able to keep this condo as a playpen for his dog. He has less motivation to be right than most since he can afford to lose money on it.

Case seems to agree with us about the immune towns by the way:
'The lower end is where the action is," said Case, a professor of economics at Wellesley College. "They are not finding bargains in Newton, Brookline, and Sudbury."'

[Renting in Mass]

I knew I shouldn't have read this article. It was bad for my blood pressure.

Sales and prices are down historical levels year over year, but hark!, there's a glimmer of hope! A new dawn is approaching! Whatever. The percentage of first-time buyers is probably increasing because they aren't carrying under-water houses and they can still get a mortgage for 3% down through the FHA.

[Renting in Mass]

Oh yeah, and you're spending a couple hundred thousand, and an $8,000 credit is "huge"? What!?