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Millennial buyers flock to the burbs

 
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dkm
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PostPosted: Wed Sep 09, 2020 5:08 am GMT    Post subject: Millennial buyers flock to the burbs Reply with quote

"All it took was a global pandemic for millennial home buyers in Boston to start doing the previously unthinkable: ditching the city for suburbia.

But city dwellers are bringing some elements of downtown living with them as they begrudgingly move to the burbs.

The prepandemic housing market in Boston’s urban core was notoriously tight. Bidding wars sent condo prices even farther into the stratosphere, with accepted offers sometimes surpassing $50,000 over asking. But that phenomenon is no longer just a Boston one, as home buyers flee the city for more outdoor space and square footage in a housing market that is still supply constrained like the urban core."

http://realestate.boston.com/buying/2020/09/08/millennial-buyers-flock-to-the-burbs/
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PostPosted: Sat Dec 12, 2020 4:34 am GMT    Post subject: Reply with quote

There is definitely a rental glut in Boston. But rather than dropping rents, landlords are offering free months. I guess there's a difference.
And condo prices aren't dropping noticeably either. If you you don't have
to sell, you can wait out the pandemic. I think people expect things to be
approaching normal in late 2021 or 2022.
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RealEstateCafe



Joined: 11 Dec 2007
Posts: 229
Location: Cambridge, MA

PostPosted: Sat Dec 12, 2020 9:20 pm GMT    Post subject: Reply with quote

Yikes, was that scrambled. Moderator / Tim M, don't see a way to edit or delete, but if you do, I'll repost.
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