bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

CNN Money on Boston: rent

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> News & Reference Suggestions
View previous topic :: View next topic  
Author Message
balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Sat May 14, 2011 3:05 am GMT    Post subject: CNN Money on Boston: rent Reply with quote

Rent or buy? 10 cities rated

Somehow they get 34x annual rent.
Back to top
View user's profile Send private message Send e-mail
Beaumontv
Guest





PostPosted: Thu May 19, 2011 3:26 pm GMT    Post subject: Reply with quote

The data must have a massive skew to get an average home price of $327k. Anything under $500k is either unlivable or in a dangerous area. Brookline, Newton, Wellesley, concord, Belmont, Cambridge, Waltham, Dedham,....never seen a place without boarded windows where $500k buys you anything at all....
Back to top
admin
Site Admin


Joined: 14 Jul 2005
Posts: 1823
Location: Greater Boston

PostPosted: Thu May 19, 2011 4:32 pm GMT    Post subject: Reply with quote

Beaumontv wrote:
The data must have a massive skew to get an average home price of $327k. Anything under $500k is either unlivable or in a dangerous area. Brookline, Newton, Wellesley, concord, Belmont, Cambridge, Waltham, Dedham,....never seen a place without boarded windows where $500k buys you anything at all....


Greater Boston is a lot larger than those towns. A $327K median is well within the ballpark of what is typical for per-county medians in Greater Boston and for the S&P/Case-Shiller middle tier for the Boston MSA. You listed some of the most expensive towns, and it's not surprising that their pricing is atypical given the total number of towns that probably went into that number.

- admin
Back to top
View user's profile Send private message Send e-mail Visit poster's website
balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Fri May 20, 2011 1:56 am GMT    Post subject: Reply with quote

Dedham? Ick. But yes I agree the price is low. I'm guessing they probably go out just past 495. Some people actually consider places like Lowell and Nashua suburbs of Boston! Also, it's not hard for the median price to be low when the number of cheap properties (one deck of a triple decker) greatly outnumbers then number of "McMansions". I remember reading at one point that roughly half of Greater Boston lives in Dorchester!

These kinds of comparisons always seem to compare median prices, regardless of property type. So a median condo in NYC is probably a 500sf condo which they gladly compare to a 4br house in Atlanta. And it's still more expensive! Razz
Back to top
View user's profile Send private message Send e-mail
admin
Site Admin


Joined: 14 Jul 2005
Posts: 1823
Location: Greater Boston

PostPosted: Fri May 20, 2011 1:23 pm GMT    Post subject: Reply with quote

Yes, I would guess the same thing, that they went out a little past 495 in this case. However, you actually don't need to go nearly so far to find towns where sub $500K (Beaumontv's mental signpost) is the norm. This is the first thing I found when doing a Google search for prices by town, and while it's not an apples to apples comparison (it's average 2009 assessed value), it's probably good enough as a ballpark estimate and most of the towns have an average below $500K:

http://www.boston.com/realestate/specials/fallhousehunt/2009/assessed_values/

- admin
Back to top
View user's profile Send private message Send e-mail Visit poster's website
balor123



Joined: 08 Mar 2008
Posts: 1204

PostPosted: Sat May 21, 2011 3:04 pm GMT    Post subject: Reply with quote

Why is Waltham NA? Anyway, let's look at towns with decent school districts around here:

Weston $1,387,707
Winchester $757,878
Newton $807,541
Lincoln $1,059,665
Wellesley $1,046,131
Belmont $752,843
Arlington $465,952
Natick $471,009
Dover $1,135,325
Lexington $702,346

I would like to see a city by city comparison of what it costs to get a home with access to good schools (GreatSchools rating of 7 or more) and commute no longer than 30min. In Boston I think about $500k seems to be it. In Austin, it's $150k. I don't know about other cities.
Back to top
View user's profile Send private message Send e-mail
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> News & Reference Suggestions All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group