bostonbubble.com Forum Index bostonbubble.com
Boston Bubble - Boston Real Estate Analysis
 
 FAQFAQ   SearchSearch   MemberlistMemberlist   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

 
Go to: Boston real estate bubble fact list with references
More Boston Bubble News...
DISCLAIMER: The information provided on this website and in the associated forums comes with ABSOLUTELY NO WARRANTY, expressed or implied. You assume all risk for your own use of the information provided as the accuracy of the information is in no way guaranteed. As always, cross check information that you would deem useful against multiple, reliable, independent resources. The opinions expressed belong to the individual authors and not necessarily to other parties.

What is your trigger point to eventually buy?

 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond
View previous topic :: View next topic  
Author Message
bugelrex



Joined: 24 Feb 2009
Posts: 16

PostPosted: Tue Jan 17, 2017 7:03 pm GMT    Post subject: What is your trigger point to eventually buy? Reply with quote

It would be interesting to see everyone's trigger point which will push them into eventually buying. In hindsight, its looks like 2011 was probably the best in terms of risk/reward (prices stabilized and creeping up)

Looking into the future what is everyone waiting to see?

1) mortgage after 20% down = rent for the same property
2) back to 2011 prices
3) DOW at 10,000
4) DOW at 30,000
5) employment rate at 3%
6) 30% of listed houses for sale go through at least 1 price cut
7) foreclosure rates back to 2009 levels

etc etc.

Everyone's situation is different, but would be good to see how realistic or unrealistic people are really being
Back to top
View user's profile Send private message
victorgbishop



Joined: 03 Oct 2016
Posts: 25

PostPosted: Tue Jan 17, 2017 7:10 pm GMT    Post subject: Re: What is your trigger point to eventually buy? Reply with quote

bugelrex wrote:
It would be interesting to see everyone's trigger point which will push them into eventually buying. In hindsight, its looks like 2011 was probably the best in terms of risk/reward (prices stabilized and creeping up)

Looking into the future what is everyone waiting to see?

1) mortgage after 20% down = rent for the same property
2) back to 2011 prices
3) DOW at 10,000
4) DOW at 30,000
5) employment rate at 3%
6) 30% of listed houses for sale go through at least 1 price cut
7) foreclosure rates back to 2009 levels

etc etc.

Everyone's situation is different, but would be good to see how realistic or unrealistic people are really being


My trigger is this - currently renting in Boston (Rozzie) for 1725 - 2b 1 bat. Wife and I both have 2 degrees, 19 m/o and wife is 21 weeks preg. There is absolutely NO WAY that we could save up 20% down. Virtually impossible in the Boston market. Both work in Boston area. How can one save 20% for a down payment without touching 401k, paying daycare on top of rent?? IMPOSSIBLE.
Move now in BOSTON - probably Hyde Park or Lower Mills area. Payments will KILL US but have to try and make it work. we got a 4.375 % rate and when we began it looking it was 3.8%
Back to top
View user's profile Send private message
bugelrex



Joined: 24 Feb 2009
Posts: 16

PostPosted: Tue Jan 17, 2017 7:36 pm GMT    Post subject: Re: What is your trigger point to eventually buy? Reply with quote

victorgbishop wrote:


My trigger is this - currently renting in Boston (Rozzie) for 1725 - 2b 1 bat. Wife and I both have 2 degrees, 19 m/o and wife is 21 weeks preg. There is absolutely NO WAY that we could save up 20% down. Virtually impossible in the Boston market. Both work in Boston area. How can one save 20% for a down payment without touching 401k, paying daycare on top of rent?? IMPOSSIBLE.


Your situation is definitely tricky, which young children it is hard to save and it would be fair to sacrifice the basics for them. The daycare costs are so insane it makes no financial sense for both spouses to work unless both have very high income.

The government could help by killing the marriage penalty and perhaps remove the low caps on child care. MA could help by introducing universal pre-K 3 and 4 and build more micro-units to allow people to least get a foot in the property market without enduring 2 hour commutes.
Back to top
View user's profile Send private message
victorgbishop



Joined: 03 Oct 2016
Posts: 25

PostPosted: Tue Jan 17, 2017 7:48 pm GMT    Post subject: Re: What is your trigger point to eventually buy? Reply with quote

bugelrex wrote:
victorgbishop wrote:


My trigger is this - currently renting in Boston (Rozzie) for 1725 - 2b 1 bat. Wife and I both have 2 degrees, 19 m/o and wife is 21 weeks preg. There is absolutely NO WAY that we could save up 20% down. Virtually impossible in the Boston market. Both work in Boston area. How can one save 20% for a down payment without touching 401k, paying daycare on top of rent?? IMPOSSIBLE.


Your situation is definitely tricky, which young children it is hard to save and it would be fair to sacrifice the basics for them. The daycare costs are so insane it makes no financial sense for both spouses to work unless both have very high income.

The government could help by killing the marriage penalty and perhaps remove the low caps on child care. MA could help by introducing universal pre-K 3 and 4 and build more micro-units to allow people to least get a foot in the property market without enduring 2 hour commutes.


Which is why I'm so peeved right now, because what do you sacrifice? living with a 2 hour commute and AWAY from your home, which then also leaves you with less time with your kids...this is a market is a joke
Back to top
View user's profile Send private message
Guest






PostPosted: Sun Jan 22, 2017 12:08 am GMT    Post subject: Re: What is your trigger point to eventually buy? Reply with quote

bugelrex wrote:
It would be interesting to see everyone's trigger point which will push them into eventually buying. In hindsight, its looks like 2011 was probably the best in terms of risk/reward (prices stabilized and creeping up)

Looking into the future what is everyone waiting to see?

1) mortgage after 20% down = rent for the same property
2) back to 2011 prices
3) DOW at 10,000
4) DOW at 30,000
5) employment rate at 3%
6) 30% of listed houses for sale go through at least 1 price cut
7) foreclosure rates back to 2009 levels

etc etc.

Everyone's situation is different, but would be good to see how realistic or unrealistic people are really being


The number 1 trigger point is kids reaching school age. Buying a house is always more expensive than renting, but it's just more convenient to buy a house and stay in one place to raise your kids. It's the same argument as taking the bus or uber versus owning a car. It depends on your situation.
Back to top
Guest
Guest





PostPosted: Sun Jan 22, 2017 4:42 am GMT    Post subject: Re: What is your trigger point to eventually buy? Reply with quote

Anonymous wrote:
bugelrex wrote:
It would be interesting to see everyone's trigger point which will push them into eventually buying. In hindsight, its looks like 2011 was probably the best in terms of risk/reward (prices stabilized and creeping up)

Looking into the future what is everyone waiting to see?

1) mortgage after 20% down = rent for the same property
2) back to 2011 prices
3) DOW at 10,000
4) DOW at 30,000
5) employment rate at 3%
6) 30% of listed houses for sale go through at least 1 price cut
7) foreclosure rates back to 2009 levels



etc etc.

Everyone's situation is different, but would be good to see how realistic or unrealistic people are really being


The number 1 trigger point is kids reaching school age. Buying a house is always more expensive than renting, but it's just more convenient to buy a house and stay in one place to raise your kids. It's the same argument as taking the bus or uber versus owning a car. It depends on your situation.


Victor- you're situation epitomizes the imbalance of the present market. Having two or more children in Boston is unworkable.
My wife's second pregnancy was the tipping point for us. 5 years ago we left and headed west. I spent the best years of my life in Boston but folks let me tell you there's a big country out there, much of it sunny and pleasant , and it ain't so bad. You're competing with too many people in Boston- students, rich kids, foreign money, single professionals. Why? It's simply not worth the fight and stress. Trust me you're children will forgive you for leaving, even if grandma won't.
Back to top
Display posts from previous:   
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond All times are GMT
Page 1 of 1

 
Jump to:  
You can post new topics in this forum
You can reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum


Forum posts are owned by the original posters.
Forum boards are Copyright 2005 - present, bostonbubble.com.
Privacy policy in effect.
Powered by phpBB © 2001, 2005 phpBB Group