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 

SPONSORED LINKS

Advertise on Boston Bubble
Buyer brokers and motivated
sellers, reach potential buyers.
www.bostonbubble.com

YOUR AD HERE

 
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.

Am I stupid for not buying a house now???
Goto page Previous  1, 2, 3, 4, 5, 6, 7, 8, 9, 10  Next
 
Post new topic   Reply to topic    bostonbubble.com Forum Index -> Greater Boston Real Estate & Beyond
View previous topic :: View next topic  
Author Message
axideci



Joined: 10 Mar 2018
Posts: 0
Location: Krotoszyn

PostPosted: Tue Feb 27, 2018 11:35 am GMT    Post subject: Reply with quote

If you have the money then you can invest or buy a home !
Back to top
View user's profile Send private message Send e-mail Visit poster's website AIM Address Yahoo Messenger MSN Messenger
Guest






PostPosted: Tue Feb 27, 2018 12:53 pm GMT    Post subject: Reply with quote

This post says it all. Marketing at its best. "If you have the money you can invest in overpriced real estate. Hurry, Hurry, great deals won't last!" I better jump in quick and get mine(ya, right)
Back to top
Guest






PostPosted: Tue Feb 27, 2018 6:03 pm GMT    Post subject: Reply with quote

eh, what's the point, this forum is infested with shitholes. Was fun to read opposing views from time to time, but now, it's just detritus.
Back to top
Guest






PostPosted: Wed Feb 28, 2018 2:29 am GMT    Post subject: Reply with quote

Good, go spend your newly found free time buying up all those good real estate deals.
Back to top
Guest






PostPosted: Wed Feb 28, 2018 5:53 am GMT    Post subject: Reply with quote

Anonymous wrote:
This post says it all. Marketing at its best. "If you have the money you can invest in overpriced real estate. Hurry, Hurry, great deals won't last!" I better jump in quick and get mine(ya, right)


I think this is an argument between those who have and those who have not. If you are rich, you can afford to buy a house and invest in stocks. If you are not rich, you are jealous and hope the housing and stock markets tank, so the rich will get what they deserve. However, the rich always win in the end.

Whenever the real estate market tanks, who ends up in foreclosure? Hint, it's almost never the rich. 99% of foreclosures happen to the people who put 5% down or less down, the blacks, the Hispanics, or amateur flippers. It's the people who pretend they are rich and they are the ones who get what they deserve.
Back to top
Guest






PostPosted: Wed Feb 28, 2018 4:30 pm GMT    Post subject: Reply with quote

Yes agreed, and that market is flooded with the latter. I own real estate. I own stocks. I would never expand my position in either in this market. Markets and manipulated by government, not free. Asset values too high. Much more likely to see significant downside rather than upside. Sometimes it's better to punt, and hope free markets will once again prevail. Until then, no thanks.
Back to top
Guest






PostPosted: Thu Mar 01, 2018 3:03 pm GMT    Post subject: Reply with quote

I don't agree it's about rich and not rich. If your rich, your certainly not out pursuing real estate or stock right now. Stock maybe individual companies or retirement long term holdings, but certainly not short term outlook. Real estate especially, is going no where in the next 5 years but flat or down. My bet is down.
Back to top
HappyGoLucky
Guest





PostPosted: Thu Mar 08, 2018 8:36 pm GMT    Post subject: Reply with quote

Sorry folks, if you want a roof over your head in the Boston area and you chose to not take the plunge in 2012, you now have to pay the piper! Pretty soon you'll need half a million to get in anywhere within 495 that isn't a complete dump or has ever increasing HOA fees and an HOA that will rule your life (and very likely make it miserable)!

Don't worry though, there's always suicide as a back up plan cuz if you're not already *in* a house, independently wealthy, making well into the 6 figures, with excellent health insurance and/or want to retire someday, you're sh*t out of luck! Well, you could in your 40's live with several other strangers - is that so bad? So, your entire family has been here for generations which is why you don't want to move to a less costly location like Detroit or Cincinatti or East Oshkosh, MA? What, you're disabled, sick, elderly or unemployed and you cannot move in with family or you have none? Sorry, you lose - get moving! Them's the breaks! You can always try the Pine Street Inn and see if they have room!

Heck, stop sniffling and pick yourself up by your bootstraps! There's a new "luxury apartment" on every street corner with your own fire pit to share with hundreds of other people for only, oh, $2,350 a month rent. So that's 50% of your income? Don't worry, corporate landlords are awesome, super nice people and they would never raise your rent too much!
Back to top
Guest






PostPosted: Fri Mar 09, 2018 12:56 am GMT    Post subject: Reply with quote

There's a reason for the lack of supply. The main problem in the Boston area is that there's almost no new affordable housing being built. They are only building luxury housing for the rich. What did you think will happen to housing prices? Developers are converting triple decker rental units into barely affordable condos. Why are you surprised that rents are going through the roof? If you think interest rates are behind the high prices and high rents, you are just plain stupid.
Back to top
Elrond



Joined: 27 Feb 2013
Posts: 48
Location: Boston, MA

PostPosted: Fri Mar 09, 2018 3:17 pm GMT    Post subject: Reply with quote

Anonymous wrote:
There's a reason for the lack of supply. The main problem in the Boston area is that there's almost no new affordable housing being built. They are only building luxury housing for the rich. What did you think will happen to housing prices? Developers are converting triple decker rental units into barely affordable condos. Why are you surprised that rents are going through the roof? If you think interest rates are behind the high prices and high rents, you are just plain stupid.


"Luxury housing" in Boston is an interesting term. What qualifies as luxury other than being brand new? No developers are using extremely high end materials on condos, maybe a few high end kitchen appliance setups but largely it's all cookie cutter basic stuff. The real problem is there's nowhere to build, and labor/permitting costs here are astronomical. Do you know a 4000 sq ft house in Houston could run you ~150k to build from scratch?
Back to top
View user's profile Send private message
guest
Guest





PostPosted: Fri Mar 09, 2018 4:28 pm GMT    Post subject: Reply with quote

Elrond wrote:
Anonymous wrote:
There's a reason for the lack of supply. The main problem in the Boston area is that there's almost no new affordable housing being built. They are only building luxury housing for the rich. What did you think will happen to housing prices? Developers are converting triple decker rental units into barely affordable condos. Why are you surprised that rents are going through the roof? If you think interest rates are behind the high prices and high rents, you are just plain stupid.


"Luxury housing" in Boston is an interesting term. What qualifies as luxury other than being brand new? No developers are using extremely high end materials on condos, maybe a few high end kitchen appliance setups but largely it's all cookie cutter basic stuff. The real problem is there's nowhere to build, and labor/permitting costs here are astronomical. Do you know a 4000 sq ft house in Houston could run you ~150k to build from scratch?


Agreed, these are in now way "luxury" apartments, they're just not 100 year old, disgusting apartments with no laundry and dishwashers like most of Boston rentals. They're normal build quality compared to other markets, "luxury" is simply a marketing term so they can charge more.

I think the real problem with Boston and the surrounding area is zoning - if zoning was set at the state level instead of giving each town the power to control every single little thing, we might not have a housing shortage. I don't know what makes NIMBYs think they have a right to tell other people what they can and cannot do on the land they own. If there were zoning rules in place (height/shadows/etc) and the building fits those, they should be allowed to build. Don't like that your little precious Lexington or whatever other rich town is getting built up? Then buy a 5 acre plot in in western mass and move.

Japan is a perfect example of these type of zoning laws. While parts of Tokyo are extremely ugly because of this zoning, I'm sure the US or states could adapt them to avoid some of this. Here is a post about their zoning - http://urbankchoze.blogspot.com/2014/04/japanese-zoning.html

Here's another good read if you're not familiar with Japan's zoning and a bit on the housing bubble in the 80s because they had restrictive zoning - https://www.ft.com/content/023562e2-54a6-11e6-befd-2fc0c26b3c60
Back to top
Guest






PostPosted: Sat Mar 10, 2018 10:21 am GMT    Post subject: Reply with quote

At some point, you skeptics are just going to have to accept the reality that Boston, like San Francisco, is for well-to-do students, the upper middle class, and the wealthy. All others will be cast out to Mattapan, Chelsea, Lynn, Fitchburg, Brockton, etc. It’ll take maybe another 10 years. Watch with amazement as Hyde Park, Malden, Everett, and Revere gentrify over the next decade. Ask yourselves: “which towns are next”?

There’s too much money trying to move into an area with a chronic housing shortage. The moneyed interests won’t allow for increased housing. What do you expect to happen? What do you think happened to “Slumerville” or Dot? Or Rozzy, JP, Southie? Or Arlington or Watertown? 10 years ago you could get a nice condo in Brookline for $500K. I’d be surprised if you could get a 400 SF dump for that price.
Back to top
Guest






PostPosted: Sat Mar 10, 2018 3:09 pm GMT    Post subject: Reply with quote

Anonymous wrote:
At some point, you skeptics are just going to have to accept the reality that Boston, like San Francisco, is for well-to-do students, the upper middle class, and the wealthy. All others will be cast out to Mattapan, Chelsea, Lynn, Fitchburg, Brockton, etc. It’ll take maybe another 10 years. Watch with amazement as Hyde Park, Malden, Everett, and Revere gentrify over the next decade. Ask yourselves: “which towns are next”?

There’s too much money trying to move into an area with a chronic housing shortage. The moneyed interests won’t allow for increased housing. What do you expect to happen? What do you think happened to “Slumerville” or Dot? Or Rozzy, JP, Southie? Or Arlington or Watertown? 10 years ago you could get a nice condo in Brookline for $500K. I’d be surprised if you could get a 400 SF dump for that price.

Is Quincy MA good choice ? It’s still possible to buy house there for 500k.
Back to top
Guest






PostPosted: Sat Mar 10, 2018 7:20 pm GMT    Post subject: Reply with quote

Anonymous wrote:
Anonymous wrote:
At some point, you skeptics are just going to have to accept the reality that Boston, like San Francisco, is for well-to-do students, the upper middle class, and the wealthy. All others will be cast out to Mattapan, Chelsea, Lynn, Fitchburg, Brockton, etc. It’ll take maybe another 10 years. Watch with amazement as Hyde Park, Malden, Everett, and Revere gentrify over the next decade. Ask yourselves: “which towns are next”?

There’s too much money trying to move into an area with a chronic housing shortage. The moneyed interests won’t allow for increased housing. What do you expect to happen? What do you think happened to “Slumerville” or Dot? Or Rozzy, JP, Southie? Or Arlington or Watertown? 10 years ago you could get a nice condo in Brookline for $500K. I’d be surprised if you could get a 400 SF dump for that price.

Is Quincy MA good choice ? It’s still possible to buy house there for 500k.


I'd look at Braintree over Quincy. I don't know what prices are like there, though.
Back to top
Guest






PostPosted: Sun Mar 11, 2018 6:17 pm GMT    Post subject: Reply with quote

Elrond wrote:
Anonymous wrote:
There's a reason for the lack of supply. The main problem in the Boston area is that there's almost no new affordable housing being built. They are only building luxury housing for the rich. What did you think will happen to housing prices? Developers are converting triple decker rental units into barely affordable condos. Why are you surprised that rents are going through the roof? If you think interest rates are behind the high prices and high rents, you are just plain stupid.


"Luxury housing" in Boston is an interesting term. What qualifies as luxury other than being brand new? No developers are using extremely high end materials on condos, maybe a few high end kitchen appliance setups but largely it's all cookie cutter basic stuff. The real problem is there's nowhere to build, and labor/permitting costs here are astronomical. Do you know a 4000 sq ft house in Houston could run you ~150k to build from scratch?


In Texas, you can get lots of skilled illegal immigrant laborers for 10/hr. You will be lucky to build 4000 sqft in Boston for less than 400k unless you do most of the work yourself. Labor is expensive in Boston. Licensed plumbers and electricians won't show up unless you pay them $100+/hr. Even the meth-heads who hang outside of Home Depots looking for work will laugh at you unless you pay them 20/hr.
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
Goto page Previous  1, 2, 3, 4, 5, 6, 7, 8, 9, 10  Next
Page 4 of 10

 
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