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The Malden Market - Ripe For Growth

 
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pamaral89
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PostPosted: Mon May 04, 2020 5:26 pm GMT    Post subject: The Malden Market - Ripe For Growth Reply with quote

Hi Folks

Anyone have any thoughts on the overall Malden market and its potential to be the next Somerville within 5-8 years or at least see some serious growth in value and the overall sentiment changing for the city?

With Malden Center and Oak Oak (the orange line + new trains), and its easy access to the city what's really holding this city back from its true potential? I'm aware of the municipality and community holding back from becoming a more "urban" environment and the families that have lived there for 50+ years are really against that growth but with Somerville becoming overpriced, and Medford well on its way, especially with the greenline ext. logically it seems that Malden is ripe of opportunities and growth in the coming years... somebody tell me I'm not crazy.. what do you guys think?

Thanks
PA
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PostPosted: Mon May 04, 2020 7:08 pm GMT    Post subject: Re: The Malden Market - Ripe For Growth Reply with quote

pamaral89 wrote:
Hi Folks

Anyone have any thoughts on the overall Malden market and its potential to be the next Somerville within 5-8 years or at least see some serious growth in value and the overall sentiment changing for the city?

With Malden Center and Oak Oak (the orange line + new trains), and its easy access to the city what's really holding this city back from its true potential? I'm aware of the municipality and community holding back from becoming a more "urban" environment and the families that have lived there for 50+ years are really against that growth but with Somerville becoming overpriced, and Medford well on its way, especially with the greenline ext. logically it seems that Malden is ripe of opportunities and growth in the coming years... somebody tell me I'm not crazy.. what do you guys think?

Thanks
PA


Before Covid-19, Malden was going to be the next Somerville. Now, people will be leaving the cities and flocking to the suburbs again. Ask yourself the following questions. Do you want to ride a packed subway car to go to work? Do you want to live in the condo towers around Assembly Square where you need to take packed elevators many times a day? Do you really want to take Uber? Any Covid-19 vaccine without serious side effects will take many years to develop. Eventually for all of us, someone we know will die from Covid-19 or from the first generation Covid-19 vaccines. Once that happens, city living won't be so appealing.
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bsg61
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PostPosted: Mon May 04, 2020 8:34 pm GMT    Post subject: Reply with quote

Malden has been "hot" for a while.

But the other poster has a point. Urban living may start to lose it's allure if life as we knew it pre-Covid does not return. The beauty of living in the city is being able to walk to stores, restaurants, bars, the T, the library, museums. But if close access to the T is not a selling point, maybe Malden's hotness will cool off a bit. Only time will tell.
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PostPosted: Tue May 26, 2020 2:43 am GMT    Post subject: Reply with quote

I think it's too early to tell how covid will affect a migration to the burbs. There's not going to be a little house out there in the suburbs for everyone. And if you have feet or can ride a bike, and work in town, you can get to the offie without Uber or the T. And that's if your employer doesn't let you work from home, which I thnk many of us will contiue to do.
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PostPosted: Thu May 28, 2020 6:19 pm GMT    Post subject: Reply with quote

Anonymous wrote:
I think it's too early to tell how covid will affect a migration to the burbs. There's not going to be a little house out there in the suburbs for everyone. And if you have feet or can ride a bike, and work in town, you can get to the offie without Uber or the T. And that's if your employer doesn't let you work from home, which I thnk many of us will contiue to do.


I'm completely in agreement with you. The greater Boston market is short in supply as is and not everyone will want to move to the burbs, when income may be stagnant/flat and job security may be questionable. For the next two years, I think people would prefer stability over space, and I think people will make do with what they have if their jobs are potentially on the line. The area and its businesses may/will see changes but in my opinion, it'll weather the storm like it always has. The spring market is already showing signs of strength.
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PostPosted: Sun Jun 07, 2020 4:01 am GMT    Post subject: Reply with quote

So the Jobs Report and Unemployment Rate were unexpectedly good for May. We may likely have hit the bottom and are returning to normalcy (though maybe slowly going forward). I;m not sure if the local real estate market will take a hit.
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PostPosted: Tue Feb 09, 2021 7:14 pm GMT    Post subject: Reply with quote

With the vaccine roll outs and effectively everyone having the ability to get the vaccine by year end (2021), I believe we'll be back to normal by this summer. Companies have already started rolling out "back to work" plans in which creates a more flexible work from home schedule. In my opinion, all surrounding markets (Somerville, Malden, Chelsea, Medford, etc.) will gain from this especially in the single family home space as people want more space to work from home.

Anonymous wrote:
So the Jobs Report and Unemployment Rate were unexpectedly good for May. We may likely have hit the bottom and are returning to normalcy (though maybe slowly going forward). I;m not sure if the local real estate market will take a hit.
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PostPosted: Tue Feb 09, 2021 7:37 pm GMT    Post subject: Reply with quote

[quote="Anonymous"]With the vaccine roll outs and effectively everyone having the ability to get the vaccine by year end (2021), I believe we'll be back to normal by this summer. Companies have already started rolling out "back to work" plans in which creates a more flexible work from home schedule. In my opinion, all surrounding markets (Somerville, Malden, Chelsea, Medford, etc.) will gain from this especially in the single family home space as people want more space to work from home.

Bottom tier cities like Chelsea, Lynn and Malden will languish because the people who live there have been crushed by Covid. Once they get their jobs back this fall, it will take them a few years to get their credit back to where they can get a mortgage.
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