bostonbubble.com

admin · Posted: Tue Jan 28, 2014 7:52 pm GMT Post subject:

Oh, I was agreeing that at least $120K in income (or something in that ballpark) would be necessary, not that it would be sufficient. I think these prices are the result of leverage getting cheaper, not less risky. Indeed, the reliance on greater leverage would seem to make it more risky. That said, I don't know that the 3x income rule of thumb has ever applied to Boston. When I calculated it way back in 2006, the norm had been close to 4.5x income, pre-bubble, though that data only starts in 1984. Going back further than 1984, the norm was lower still. Not surprisingly, the increasing leverage appears to coincide with the decline in interest rates that has been ongoing since the early 1980s.

- admin

showgunxx · Guest

admin · Posted: Wed Jan 29, 2014 11:24 pm GMT Post subject:

showgunxx · Guest

No admin, 599,900 price tag start on january 6th. 2014. so this just 'priced right' for less than a month.[/quote]

New in NE · Guest

Hi Guys
we just moved from CA and looking to buy a house in Lexington. How is the town for a family with kids? How is RE? Is anything decent available in 500k range? Decent means 3bed/2bath/~1400sqft no need to repair in near future.
Thanks
Gary

admin · Posted: Thu Jan 30, 2014 8:47 pm GMT Post subject:

New in NE · Guest

Thanks Admin. Looks like it will be tough to find around 500k. Next to freeway might be very noisy. Probably I will have to look little further like Burlington, Billerica or Natick....
Newton/Weston is out of question and Arlington has houses in that range but with one bath only. I don't know why most of the houses in Arlington has only one bath. Better to rent if it has only one bath.

showgunx · Joined: 14 Jul 2005 Posts: 60

Guest · Posted: Sun Feb 02, 2014 5:45 am GMT Post subject: Re: burlington

donaka · Guest

New in NE · Guest

Donka,

I don't mind if it is 1950's as long as it is in good condition. Don't want to spend any money on fixing for at least next 5 yrs.

balor123 · Joined: 08 Mar 2008 Posts: 1204

When it's from the 1950's and it's in good condition, it costs a million dollars. Unfortunately, if you want to live in MA that comes with the territory - expensive small homes perpetually in poor condition for most people. At least in most other states you could live in MF housing. There is some around but it's relatively rare and hard to find compared to most other large cities. You can even pay a premium for such housing as well.

donaka · Guest

showgunx · Joined: 14 Jul 2005 Posts: 60

CL · Guest

I bought a house in Lexington in 2012 and have many friends with small kids looking into moving into town. In last 2 years, 700K-1mil houses, 4 bedroom 2+ bath, 2000-3000 sq ft houses are HIGHLY sought after. You are talking 10-15 offers in first open houses if condition and location is decent. So expect very fierce bidding war.

Admin - my personal experience is Lexington is a fabulous town for family. Very well run town finance, good town services (how many towns have their own bus service?). Schools are very strong - there are a lot of good school districts in Metro West but when you sat aside MCAS (which probably is not differentiating enough among very good schools) and look at college matriculation, SAT score, national merit semi finalists, AP scholars, etc, Lexington ranks very well. And believe it or not, it is considered as one of the Harvard feeder schools(http://www.thecrimson.com/article/2013/12/13/making-harvard-feeder-schools/). My wife (from MIT) is not pleased.