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Boston Globe: Boston’s housing market hits a tepid patch

 
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Meaningless off-seasons stats or #RETippingPoint?
This is Boston, prices never go down
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Sign we've really reached a #RETippingPoint
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Other: Comment in thread below
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Total Votes : 1

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RealEstateCafe



Joined: 11 Dec 2007
Posts: 207
Location: Cambridge, MA

PostPosted: Fri Dec 27, 2019 10:34 pm GMT    Post subject: Boston Globe: Boston’s housing market hits a tepid patch Reply with quote

Seen Tim Logan's story yesterday in the Boston Globe? Another meaningless off-season set of stats, or something so fundamental that it's time for local real estate agents to stop hyping the market (and blind bidding wars), particularly via taxpayer supported housing counseling agencies and credit unions who have fiduciary duties to their members? See post to LinkedIn with link to Boston Globe's headline:

http://bit.ly/TepidBosRE_101


+ + +


INVITE: If any homebuyers are available tonight or this weekend, would love to celebrate this important turning point as we turn into 2020:

"Home prices have either peaked or plateaued in many areas and could moderate further in the months ahead if supply levels grow.”

Am also interested in hearing from babyboomers who want to time the sale of their property given ominous predictions that we're entering the Great Senior Sell-Off:

http://bit.ly/SrSellOff

If you hope to sell a luxury single-family home in the Boston suburbs, looks like it's already too late to time the top of the market. See tweet from this day last year, 12/27/18, to put this year's "tepid" pace in context:

http://bit.ly/NovSlump2018

EXCERPT:

#LuxRE: Across MA. so far in 4Q2018, analysis of SF sales $2.5M or more shows

4 in 10 homes sold for more than 10% off;

55% sold $250K or more off original asking price;

15 homes, or about 1 in 5, sold for $1M — yes, $1 MILLION — or more below original asking price.
_________________
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
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bsg61
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PostPosted: Sun Dec 29, 2019 7:11 pm GMT    Post subject: Reply with quote

Can't read the Globe article as I'm not a subscriber and over the limit....I can imagine what it says though. Yeah, no one can afford the current inflated prices so it's becoming a "buyer's market".

If interest rates remain low or go even lower (like POTUS wants) will prices in this area adjust significantly enough to become affordable?

See article in NYT: "Mortgage rates below 1% put Europe on alert for housing bubble"

"Money is so cheap — a 20-year mortgage can be had in Paris or Frankfurt at a rate of less than 1 percent — that borrowers are flocking to buy apartments and houses. And institutional investors, seeing a chance for lucrative returns, are acquiring swaths of residential real estate in cities across Europe."

“The risks are real, because negative interest rates in Europe are cemented,”

Is the U.S. next?

https://www.nytimes.com/2019/12/17/business/europe-housing.html
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RealEstateCafe



Joined: 11 Dec 2007
Posts: 207
Location: Cambridge, MA

PostPosted: Mon Dec 30, 2019 8:00 pm GMT    Post subject: Reply with quote

@bsg61 -- Appreciate your question, haunted might be a better word as I've thought about it repeatedly this past year because of pressure out of the White House to reduce interest rates.

Am developing an outline to respond to you, but would prefer to hear from others first.

Anyone on BostonBubble got expertise in Macro-Economics to put this economic cycle into context, and translate into advice for buyers and sellers in 2020?
_________________
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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