bostonbubble.com

former arlingtonian · Guest

Let's look at recent Real Estate transactions for Boston and you'll find people loading up on debt.
If you look at recent Boston condo transactions you find some good down payments and some of the largest mortgage debt in the history of these Boston properties.

135 Pembrook, Apt 4, Boston - sold for $525,000 (675 sq ft) and now has a $393,750 Mortgage

11 Goodway Rd, Unit 1, Boston -sold for $270,000 (970 sq ft) and now has a $256,500 Mortgage.

181 Webster, Apt 2, Boston,sold for $224,000 (500sq ft) and now has a $197,500 Mortgage

1 Monument Sq, Apt D, Boston sold for $1.64 Million - Mortgage now is $820,000

In 2004 1 Monument sq Apt D sold for $1.7 -

63 Mossdale, Boston sold for $610,000 (6,300 sq ft) - Mortgage now is $488,000
In 2001 63 Mossdale sold for $545,000 with a Mortgage of $465,000 - Mortgages were 50% more expensive- sept 2001 30 year Mortgage was 6.8%- vs 4.5 % today.

350 North Street Unit 1 Boston sold for $775,000 (879 sq ft) Mortgage now is $750,000

251 Heath St, Apt 509, Boston sold for $385,000 (1180 sq ft) Mortgage now is $393,277

300 Allston, Apt 409, Boston sold for $398,500 (957sq ft) Mortgage now is $291,000

90 Commercial, Apt 1A, Boston sold for $485,000(780 sq ft) Mortgage now is $388,000
The Owner of 90 Commercial Apt attempt to sell it in 2010 for $362,000 - but, generational low in interest rates and a Boston buying mania were the right combination.

Where are the 100% cash buyers from faraway lands (I'm sure there are some - but, the willingness to take on epic levels of mortgage debt is really what is moving this market.

Dismayed · Guest

Many of the listings that you posted had decent down payments.

Arlingtonian · Guest

Dismayed,

Yes, they are decent down payments - but, the over whelming factor is that these are all biggest Mortgages ever taken out on these Real Estate locations.

No - worries - didn't you point out that Japan has been caught in deflation. BTW- the USA is not Japan.

High prices for Real Estate - Not paid for in Cash - but, people pouring their saving into Real Estate and then taking out some fairly EPIC debt,

Kind Regards.