bostonbubble.com

news · Joined: 14 Jul 2007 Posts: 0 Location: Greater Boston

Use this forum thread to discuss the following link.

Description: $84,500 salary needed to leverage into Boston area housing
URL: http://www.businessinsider.com/salary-needed-to-buy-home-2014-12?op=1
Info/Broken?: http://www.bostonbubble.com/link_info.php?id=4156

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admin · Posted: Thu Dec 18, 2014 3:58 pm GMT Post subject:

Wow, Business Insider really botched the summary on this. Their Boston listing clearly shows population for Boston Proper but the median home price for some much larger area (e.g., Boston MSA). Quite misleading (unintentionally so, I assume).

- admin

showgunx · Joined: 14 Jul 2005 Posts: 60

$84,500 USD today is only with the buying power of $50,000 five years ago.
Housing is more expensive, healthcare is more expensive, education is more expensive, food is more expensive, tax is higher. The only thing that is flat is your salary.

For those who didn't buy a house between 2009 and 2012, please go to a corner now and bump your head 1 millions times and keep calling yourself idiot.

balor123 · Joined: 08 Mar 2008 Posts: 1204

This goes for all cities really. I bought my house in 2012 and it's crazy what's happened since. We thought about eating some transaction losses and switch homes but the big impediment is that we're simply unwilling to spend the amount of money being asked on properties now. Taxes would be way higher!

But more importantly, prices are unstable and the value of a lot of properties can be hard to determine, especially at the high price points many have been pushed into. The noise in valuation quickly becomes tens of thousands of dollars.