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PostPosted: Mon Aug 25, 2014 3:10 pm GMT    Post subject: Anyone still here? Reply with quote

I'm guessing that those of us (including me) who thought Boston real estate was a bubble is looking more and more wrong.
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admin
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Joined: 14 Jul 2005
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PostPosted: Mon Aug 25, 2014 3:41 pm GMT    Post subject: Reply with quote

Just to clarify whatever the site name might imply, it was named under the premise that there was a real estate bubble when the site was created, in 2005. I actually did call a bottom in July 2012, conditional upon mortgage rates staying ultra low, the economy not worsening, and government welfare continuing to flow to the FIRE industries. That is, I thought that the prices then were sustainable under those conditions, though the conditions themselves are risky to rely on. That said, while I wouldn't have used the term bubble then, I don't think that a year of price surges and two years of tight inventory could disprove the existence of a bubble. That's what people said back in 2005, and they were dead wrong. And again, I'm not saying there is a bubble now, just that you can't disprove it over such a short time frame.

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balor123



Joined: 08 Mar 2008
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PostPosted: Tue Aug 26, 2014 4:49 am GMT    Post subject: Reply with quote

I'd agree that prices by 2012 had moderated to sustainable levels but at this point I'll come out and say the market looks pretty frothy to me. I think if there aren't any big rattles to the economy we'll quietly settle down in the next 2-3 years as interest rates rise. MA still has demographic problems we disucssed several years ago, such that starting in about 5 years even as the rest of the country heats up it will feel relative downwards pressure. Hard to know if college students will fill the void, as they've been there before but it hasn't always been the case.
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PostPosted: Mon Oct 27, 2014 1:46 pm GMT    Post subject: Market Looks Frothy in Arlington Reply with quote

The downstairs unit (1,150 SQF) of a 2 family condo recently sold for $440,000. People borrow as much as the banks will lend, even though real interest rates are no that low and future wage growth will be weak.
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PostPosted: Tue Oct 28, 2014 2:01 pm GMT    Post subject: Flippers? Reply with quote

I am wondering how the home flipping/real estate developers impact the market (Cambridge, Somerville, etc) for us who are traditional buyers. Does it drive prices up in general? Are the flippers out there now making big $$$ right now? Just curious if anyone has any knowledge on this topic.
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thasac
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PostPosted: Thu Oct 30, 2014 12:27 pm GMT    Post subject: Re: Flippers? Reply with quote

question wrote:
I am wondering how the home flipping/real estate developers impact the market (Cambridge, Somerville, etc) for us who are traditional buyers. Does it drive prices up in general? Are the flippers out there now making big $$$ right now? Just curious if anyone has any knowledge on this topic.


They certainly help fuel a sense of competition/frenzy.

My fiancee and I attended an open house in Westford 2 weeks back ... in the 30 minutes we spent there, 6-7 contractors must have walked through with their tape measures and calculators. We were the only "traditional" buyers aside from one other younger Korean couple.

I think there are a lot of small time contractors lacking the capital to develop land, so they are trying desperately to turn a buck on remodels.
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