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Warren Group on Jan 2009 vs Jan 2008: MA SFH nominal median

 
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news



Joined: 14 Jul 2007
Posts: 0
Location: Greater Boston

PostPosted: Tue Feb 24, 2009 2:23 pm GMT    Post subject: Warren Group on Jan 2009 vs Jan 2008: MA SFH nominal median Reply with quote

Use this forum thread to discuss the following link.

Description: Warren Group on Jan 2009 vs Jan 2008: MA SFH nominal median falls 20%
URL: http://news.bostonherald.com/business/real_estate/view/2009_02_24_Mass__home_sal ...truncated...
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2196

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Joined: 14 Jul 2005
Posts: 1824
Location: Greater Boston

PostPosted: Tue Feb 24, 2009 2:24 pm GMT    Post subject: Reply with quote

Here's the Globe article on the same subject:

http://www.boston.com/business/ticker/2009/02/local_housing_p.html

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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Tue Feb 24, 2009 2:37 pm GMT    Post subject: Reply with quote

My quick survey of the Warren Group town numbers tells me that prices are down in amounts by about 50% in areas like Roxbury, Dorchester, Lawrence, Lynn, etc. Some cases, the prices are WAY down (like by 60%+ percent) over a year ago.

If you're interested in becoming an landlord, I can't imagine that it's going to be too hard to find cash-flow positive properties at these prices. (Assuming you can find renters.)

Brookline, Cambridge, etc. are holding much stronger. We'll see how long the "trickle down" takes to these areas.
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