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Boston high-end home sales fall by half

 
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news



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

PostPosted: Mon May 18, 2009 1:17 pm GMT    Post subject: Boston high-end home sales fall by half Reply with quote

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Description: Boston high-end home sales fall by half
URL: http://www.bostonherald.com/business/real_estate/view.bg?articleid=1172800
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=2360

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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Mon May 18, 2009 2:10 pm GMT    Post subject: Reply with quote

The Warren Group has posted its April numbers to their freely available "Town stats" feature. Sales in the "immune towns" has fallen 40-50% percent (roughly reflective of these numbers).

Prices, however, have not fallen too much. But I don't see how prices can be sustained when sales are falling off a cliff. Either sales need to increase or prices need to drop, or some combination of both.
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john p



Joined: 10 Mar 2006
Posts: 1820

PostPosted: Mon May 18, 2009 3:36 pm GMT    Post subject: Reply with quote

Just goes to show you how much an emergency fund can buy of stubborn. The rich can afford to be stubborn.
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JCK



Joined: 15 Feb 2007
Posts: 559

PostPosted: Mon May 18, 2009 3:39 pm GMT    Post subject: Reply with quote

For a time. If sales continue to be this sluggish, I think prices have to follow.
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balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Mon May 18, 2009 6:54 pm GMT    Post subject: Reply with quote

Good news is that the longer they are stubborn the less rich people there are.
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