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Greater Boston’s housing market still soaring, $765K for S

 
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Will Boston experience a housing price correction in 2022?
Yes, under 10%
0%
 0%  [ 0 ]
Yes, under 5%
50%
 50%  [ 1 ]
No
0%
 0%  [ 0 ]
Don't know
50%
 50%  [ 1 ]
Total Votes : 2

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RealEstateCafe



Joined: 11 Dec 2007
Posts: 233
Location: Cambridge, MA

PostPosted: Wed May 19, 2021 7:14 pm GMT    Post subject: Greater Boston’s housing market still soaring, $765K for S Reply with quote

#RETippingPoint: How far have housing prices become disconnected from reality? Let’s try to put today’s “totally artificial real estate economy “(phrase Nobel prize winning economist Robert Shiller first used in 3/2013) into context:

http://bit.ly/800LB_REGorilla_BosRE

EXCERPT (from @RealEstateCafe discussion forum):

"In October 2019, Boston Agent Magazine reported that Greater Boston Association of Realtors / @GBAREALTORS issued a statement saying that Boston home values had “likely peaked.” Then median sales prices of single homes were still setting records but at $605K, prices had only risen 1.7% year-over-year (YOY) in September 2019, marking the 5th month in 2019 with less an 2 % increase YOY."
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The Real Estate Cafe
Serving a menu of money-saving services since 1995
97a Garden St.
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617-661-4046
realestatecafe@gmail.com
http://realestatecafe.com/blog
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PostPosted: Fri May 21, 2021 2:29 am GMT    Post subject: Re: Greater Boston’s housing market still soaring, $765K f Reply with quote

RealEstateCafe wrote:
#RETippingPoint: How far have housing prices become disconnected from reality? Let’s try to put today’s “totally artificial real estate economy “(phrase Nobel prize winning economist Robert Shiller first used in 3/2013) into context:

http://bit.ly/800LB_REGorilla_BosRE

EXCERPT (from @RealEstateCafe discussion forum):

"In October 2019, Boston Agent Magazine reported that Greater Boston Association of Realtors / @GBAREALTORS issued a statement saying that Boston home values had “likely peaked.” Then median sales prices of single homes were still setting records but at $605K, prices had only risen 1.7% year-over-year (YOY) in September 2019, marking the 5th month in 2019 with less an 2 % increase YOY."


Realtors know next to nothing about real estate values except for the few who are real estate investors. Realtors are exactly like used car salespeople.
Likewise car sales people know next to nothing about car values. If you are going to buy a car, talk to a car mechanic to find out how much to pay for a car, not a car sales person. Home values won't peak for a few more years, probably 2024.
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RealEstateCafe



Joined: 11 Dec 2007
Posts: 233
Location: Cambridge, MA

PostPosted: Fri May 21, 2021 3:40 pm GMT    Post subject: Reply with quote

Can you say more about why you write, " Home values won't peak for a few more years, probably 2024" and what expertise you bring to that perspective?
_________________
Bill Wendel
The Real Estate Cafe
Serving a menu of money-saving services since 1995
97a Garden St.
Cambridge, MA 02138
617-661-4046
realestatecafe@gmail.com
http://realestatecafe.com/blog
http://twitter.com/RealEstateCafe
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