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How will prices change in 2009 for Greater Boston?
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How will prices change in 2009 for Greater Boston single family homes?
Down more than 10%
62%
 62%  [ 5 ]
Down 5 - 10%
25%
 25%  [ 2 ]
Down 0 - 5%
12%
 12%  [ 1 ]
Up 0 - 5%
0%
 0%  [ 0 ]
Up 5 - 10%
0%
 0%  [ 0 ]
Up more than 10%
0%
 0%  [ 0 ]
Total Votes : 8

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RealEstateCafe



Joined: 11 Dec 2007
Posts: 154
Location: Cambridge, MA

PostPosted: Fri Aug 11, 2017 11:12 am GMT    Post subject: Reply with quote

Google search results for "Lost Decade in Housing"
http://bit.ly/LostREDec

Response by some buyers who felt betrayed by #FakeBuyerAgents
http://bit.ly/Misled2008
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PostPosted: Fri Aug 11, 2017 2:00 pm GMT    Post subject: Reply with quote

Anonymous wrote:
RealEstateCafe wrote:
My question is whether people will regret buying in 2017, apparently the Realtors are finding reason to be concerned as well:

Consumers Fear Another Housing Bubble
http://bit.ly/FearREDux


Strange question as that depends on the time horizon and objective. I doubt that the people who bought primary residences even at the previous two tops (89, 05) complained 10 years later if they were able to stay put.


The regret at buying at/near the top is fleeting and will pass with time for most people. The only people who truly regret were the ones who sold at a loss, about 6%, more if you were black (2x) or hispanic (3x). Nothing in life is without risk. There are lots of people who regret going into debt to go to college, yet people still want to go to college and college is a good option for most people. The question is which regret is bigger, watching your kids grow up in a cramped apartment and waiting another 10 years to buy at the bottom or risk being underwater? The worse thing to do is to buy at the absolute top in 5 years.
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Elrond



Joined: 27 Feb 2013
Posts: 29
Location: Boston, MA

PostPosted: Fri Aug 11, 2017 3:03 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Many people are kicking themselves for not buying when prices were lower in 2009. Prices will never be that low again. YIMBY will never work, the big developers and homeowners own all the politicians. Just go to any zoning board meeting and you will see what happens when people try to build affordable housing.


I went to that YIMBY meeting last night, had never heard of it before. Another man I spoke with there, also named Bill, said that their group was the reason that a 400+ unit new apartment building in Central Square was able to get approved.
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PostPosted: Fri Aug 11, 2017 5:50 pm GMT    Post subject: Reply with quote

Elrond wrote:
Anonymous wrote:
Many people are kicking themselves for not buying when prices were lower in 2009. Prices will never be that low again. YIMBY will never work, the big developers and homeowners own all the politicians. Just go to any zoning board meeting and you will see what happens when people try to build affordable housing.


I went to that YIMBY meeting last night, had never heard of it before. Another man I spoke with there, also named Bill, said that their group was the reason that a 400+ unit new apartment building in Central Square was able to get approved.


Are they 400+ units affordable housing or more of the same luxury apts/condos that people can't afford? You are wasting your time if they are luxury units unless you are one of the lucky 60 to win the lottery on the low income units. We need more affordable units to bring down prices.
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Elrond



Joined: 27 Feb 2013
Posts: 29
Location: Boston, MA

PostPosted: Sat Aug 12, 2017 5:47 pm GMT    Post subject: Reply with quote

They stated that they agreed to the new 20% affordable rule.

Building anything is worthwhile, today's "luxury" units become the regular homes of the future as people trade up. Why would any private developer do any less? After all, they too have a right to make a profit.

It's really a shame that some asshole burned down the 600+ units in Waltham, and the other large accidental fire in Dorchester. That's a lot of housing that went up in flame in a short period!
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PostPosted: Sat Aug 12, 2017 5:52 pm GMT    Post subject: Reply with quote

Elrond wrote:
They stated that they agreed to the new 20% affordable rule.

Building anything is worthwhile, today's "luxury" units become the regular homes of the future as people trade up. Why would any private developer do any less? After all, they too have a right to make a profit.

It's really a shame that some asshole burned down the 600+ units in Waltham, and the other large accidental fire in Dorchester. That's a lot of housing that went up in flame in a short period!


We need to bring back rent control to Cambridge. Once it happens, prices will drop like a rock.
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Elrond



Joined: 27 Feb 2013
Posts: 29
Location: Boston, MA

PostPosted: Sat Aug 12, 2017 5:53 pm GMT    Post subject: Reply with quote

Oh sorry not sure why I thought it was 600+ units, newspaper says 264. Anyhow, that's a lot of housing gone for nothing!
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PostPosted: Sat Aug 12, 2017 6:02 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Elrond wrote:
They stated that they agreed to the new 20% affordable rule.

Building anything is worthwhile, today's "luxury" units become the regular homes of the future as people trade up. Why would any private developer do any less? After all, they too have a right to make a profit.

It's really a shame that some asshole burned down the 600+ units in Waltham, and the other large accidental fire in Dorchester. That's a lot of housing that went up in flame in a short period!


We need to bring back rent control to Cambridge. Once it happens, prices will drop like a rock.


https://www.jacobinmag.com/2017/08/yimbys-housing-affordability-crisis-density
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