The skipping to please Yourube on the REAL problems here is hilarious! All women renowned socialist Communist the PLAN is to create a centralized area to the poor & enrich the rich to gated communities! Oh & the CRIME here is OUT OF CONTROL
57 yrs old, born, raised + still live here. Have watched state turn from blue collar + Hi-Tech to liberal policies hellhole. Reason I bring this up is the area prices won't be sustainable now that they've destroyed the middle class here. If it weren't for all the colleges, Boston would be just another Baltimore - a small, crime ridden, drug infested, welfare dependent East Coast city.
I disagree on one point. housing prices need to come down. Let the market forces bring it down. Interest rates are at its normal or average rate in last 70 years. 7-8% is actually average in mortgage rates. Houses are just over valued.
Are you sure they are over valued? I have built houses from 50 million to 50K. This is the deal, Builders can not work for free. Everyone has stopped building in my markets. Because there is no $$$ to be made. And the risk is massive. Everyone I know, has stopped building. If it was easy. Everyone would do it, as they say. Remember all markets are local and this is just a few neighborhoods.
@@angelobalbi OK< lets be fair here. I did say that I shut down. BTW Everyone I know has stopped building houses/Multi-Family, etc. What are people going to buy? Air? Grass Lot? Cardboard box? I would like to ask you. Do you think construction workers are lazy? weak? dumb? Or do you think that they are the hardest workers in a civilization? Along with farmers? Now I would like to ask you, how long to you think it takes to build a construction company. One life time? Maybe two generations? Or three generations? working 14 to 18 hours a day, Seven days a week? Now this is the part I do not think you will like, (The scary info) How many guys like me, do you think got of out of the game? 50%, 60% 80% maybe 90% or even more, of the builders? Everyone I know has got out and I do not think they will come back. Office jobs are easy and pay well. Do you know how long it takes to build a house? Even a small house? Now take a guy like me that would build 40 Acers of housing at a time, and had generations of conations. (We would buy lumber straight from the mill. We helped them get running) Keeping all the best subs working and paid, know all the city's BS, the states, BS and the Feds BS. BTW the City's, States and Feds all LOVE to change the rules right in the middle of the game. Some young engineer, that has zero experience will get a hair up their @ss. ( What do they have to lose/ Tax payers, pay for their wages) This make the project go over budget and all the profit is lost. Not only do builders, big and small, work for free. They lose money. Do guys like you want to take the massive risk? Heck, I see on YT all the time, people can not even get a shed built on their land. One more question. Do you think houses are perishable. Or do you think they last for a life time? How long do you think a empty house will last in the U.S.? Say a foreclosed house? BTW, I did not even say anything about the price of building materials or not even being able to get them. The suppliers have HIT THE WALL as well. What are builders to do? Buy all the materials before the house is started? Maybe stack them up on a lot with a tarp over them? IDK, Maybe I have a birds eye view, And you don't have a clue. But I could be wrong. I think the real problem is the government braking the law and living in tax payers pockets. As the Federal Reserve Bank prints money that is NOT backed buy anything of value and giving it to their GOOD BUDIE's as we all get f%cked. And I think they did this until the whole system melted down. What do you think?
I mean, Americans can purchase homes in other countries without being citizens. Look at the huge amount of American citizens moving to Mexico and the rest of Latin America. The issue is the greedy realtors, and institutional investors.
I'm in Western MA and every single house in my city on Zillow is in the red, losing value. This, after realtors for the last 3 years said it will never go down again. They are the biggest Liars in any profession I have ever seen.
In central Mass. I tried to sell my home but the realtor I selected was trying to manipulate me , she was working her own book, citing a cash buyer she had lined up. Very corrupt.
Grew up in Danvers, Salem, and Beverly Mass. That was the damn coolest place to grow up. Boston super close, Hampton beach super close, seafood. It was just the best childhood/teenage years.
Southern Maine is now the suburbs of Boston. Huge migration from “Boston” area pushing prices way up. Hybrid commuters can easily handle the trip in via train or commuter rail. MA Money goes much further in ME but pricing out local Maine workers who can’t afford to buy now .
You are wrong. Downeaster runs from Maine to North Station. And a quick drive to Newburyport or other north Shore locations you can take the commuter rail or even the orange line. I live here and have done it for 20+ years.
Lots of those single family homes in Maine are recorded as multi family under llc’s. In other words are commercial property. Many who bought are regretting.
I'm in Boston as well and its just not worth buying in the city, even if prices come down. You pay so much for so little space, your house is sitting right on the street almost and if you get a parking spot you're lucky. Furthermore, Boston, in the last 5 years has seen an insane surge in traffic, I feel bad for people who have to commute to work daily, it is miserable. Public transportation wise, the MBTA somehow gets worse and worse every year despite the city pouring billions into its transit system. I plan to purchase 30-40 mins outside of the city, more space, prices are coming down, better quality of life.
@@mikeurbanGood to know, many thanks Mike. I work full remote and do not see that changing in the foreseeable future, the traffic won’t impact me, at least in terms of driving to and from work.
I love a good story from Taxachusetts, the sixth worst state in property tax competitiveness. The Boston City Council wants 2% of real estate sales to do what? I KNOW! They'll create a city commission to hire their political friends at well above average salaries to "work" at housing assistance programs and donate cash back to their re-election campaigns. They're so altruistic and benevolent, be still my heart!
I'm in Boston and I'm seeing homes stay on the market more. The problem in Boston is that we don't have enough homes here. There is no place to build. I saw prices drop in the early 90s and around 2008 to 2010. Early 90s was worse than 2008.
I'm in Waltham and I'm seeing more homes for sale every day. No one notices the tidal wave when its out at sea. As it approaches, it gets larger and larger.
@@mikeurbanWe are run by communists JUST say it Mike! RE is Over nation wide RENT control Nationwide is coming-only rich can afford the losses! Go back to snipping electrical wire you be better off -the taxation to END the middle class will not stop 🛑 in Boston! FINITO Ben doing RE for 33 years in Boston WHATS going on is pushing the middle class OUT!
Stay away from condos. Management companies and shady condo associations are like mafia families. The best thing about Boston is the convenience. It’s a small town area wise. I bought 2 REO condos in 2010 and 2011 thanks to the housing crash. I see the same properties back on the market at twice what I paid. I won’t entertain 100% mark up for a fresh coat of paint and some new appliances. Be patient. Prices in the city will drop again. The banks haven’t been forcing foreclosures because they already experienced what happened from 08’ to 10', when they flooded the market with REO’s. A lot of people fell behind during the 2 year lockdown. There are a ton of delinquent borrowers who are not being foreclosed on because they’re paying something and not just ghosting the lenders(like 08' to 10’). I don’t know what’s going to trigger another wave of foreclosures but something definitely will. Sit tight, stack money and keep your credit in tip top shape and you’ll steal something off the market.____Good luck in your endeavors.
Home values are declining in upstate New York, and New Hampshire. I hate seeing people suffer after buying at the peak. This will be horrible for years. Just like 2008.
Can't wait til the Spring so I can sell my house of 30yrs on Cape Cod. Ready to get out of this state. Born and raised in MA, but the current state of affairs and the politics in this state has driven me out of here. 🙏🇺🇲✌️😎
Thanks for doing this show in Boston! ive been noticing price drops increased DOMs in my market north of Boston, Im holding tight and earning 5% on my large down payment. Im not biting this insanity
I’m in western MA, many transplants in Northampton from Boston and NY. Local salaries can’t compete. Seeing a lot more ‘back on market,’ relisted properties, price drops. Sales on Redfin are still showing $10-50+k over asking, not sure if it’s from price drops that got bid higher or what. Some houses sitting. Many houses not worth buying as well. It’s a mix. I hear Amherst housing market is horrible, as mentioned in this video.
If the gov is going to monkey around with taxes, why not tax breaks for owner-occupied units to financially incentivize owner-occupants over investment properties.
They do its called homestead property tax. The break varies by location but typically you get a percentage off and caps on how much they can raise the property tax. This is one reason rent prices can go up drastically. Since investors are not protected from price hikes. If the property value doubles, so does the property tax. which gets passed on to the tenant.
The govt already offers a big tax breaks for owner occupied properties in the form of imputed rent, tax deductible mortgage interest and local property taxes. The 1031 provision for landlords and developers is also extremely generous. We don't have anything similar for long term stock or bond investments.
Why can't they use the same money that was sent to Ukraine and Israel to build affordable housing here? It seems like when other countries have crisis we find billions of dollars to send to donate but we have affordable crisis here in America but only brilliant plan they came up with is to tax citizen more... smh It's a shame of what is going here, we pay taxes too and I bet we're going be on the hook for money that was sent overseas to bail out other countries with their crisis? It's sounds like we're running a racket with the American citizens... This just my opinion and my observation of all the mess we're dealing with here in America. Great Channel by the way!
In my suburb outside of Hartford CT of ~25k people, we actually achieved ZERO available single family listings last week. LITERALLY ZERO. Hartford county is still shockingly strong, and we’re only 90 minutes from Boston.
Another good show and topic. I like the straight forward way the economic market and facts are layed out. Could you do a show on the Boston suburbs in and around route 495 and the The Villages Florida real-estate markets? The Villages Florida seems to be a real-estate bubble of its own because half the homes are listed on the VLS and not on the MLS. The Villages can manipulate the market by holding back homes or adding additional homes.
I feel like literally everyone has amnesia about the 2008 market crash and pretend like it can’t or won’t happen again - except Todd and RealEstateMindset as far as I know. This country is sick and blind with greed that they ignore history.
I think it's because they see the circumstances as different, particularly in terms of the borrower profiles. But I do agree with you in that it can most definitely happen again. The insanity of home prices, rising 30 to 40% here in Florida, in just a 2 year period, is going to have consequences. American citizen's debt is the highest ever. People have taken a very cavalier attitude toward debt and it will eventually be crippling, bringing everything crashing along with it.
@@jann1717 this is very true. What people don't understand is the market may not crash under the same circumstances as before. Many people do not really have a clue of what is really happening behind the scenes.
Everybody in Massachusetts wants affordable housing…just not in THEIR backyard. Braintree just shut down a huge development in an unused parking lot at the South Shore Plaza. It would have added 500+ units, a third of which were designated for seniors. The town of Milton is trying to find a way to get out if the MBTA Communities Act, which requires towns to allow multi family developments near public transit. Time after time, residents shut down these projects, citing increases in traffic, lack of parking, and increased strain on public services. It’s not the politicians this time, it’s the people.
A lot of people from the Boston area have moving up to NH now that working remotely has become more popular. That's really been affecting the housing availability there.
Yeah I noticed, be really cool if they would stop inflating our market though because our incomes have gone nowhere and our property taxes are being driven through the roof. Just something to think about..
Thanks and I watch your content always! In Braintree MA I lost on a bud 2 weeks. The property had 18 offers. More expensive stuff is sitting a bit but median homes are still getting over asking.
two factors to consider. 1) it is a huge pain to acquire land in a city, takes forever to navigate the permitting, hugely elevating the risk of a new project. Only high price luxury residences can justify this risk. 2) with the new products available, it is possible to build a really nice luxury residence, so why build a lower price place unless the location is less desirable, and property was cheap
Tax increase for corporations investing in the market, tax decrease for single family owner. The reason cash transactions are increasing is because corporations are buying and manipulating the market. Reduce their profits with taxation and the market will improve.
Dorchester Center is safe now? Are the schools doing better in Boston? BPS is a horrible school system. Im happy to hear the downturn is starting, rent is ridiculous in the ideal surrounding area like Cambridge, Somerville, Newton, Arlington.
I live on Cape Cod, my family has since 1620, and Its looking like I may never own my own home here. Most houses are over 600k-800k and several are over 1 million
Cape Cod had some dark days (90s)where homes were selling crazy low prices why didn’t you buy then? I bought one in 2016 for 1/2 what its worth now, you need to strike when it makes sense
A few new commuter rails from Boston to New Bedford and Fall River would open up a ton of new residential real estate development along those railways.
I agree. Don't expect it to happen any time soon though. They've been talking about extending lines to New Bedford and Fall River off and on for 20+ years now but nothing seems to materialize.
The commuter rail is in process thank god, but these cities in the south shore need great investment in the amenities and infrastructure to make them attractive places to live. I think its coming though, New Bedford just received a huge grant to redesign some of the areas/roads to make the area more pedestrian friendly I see these areas becoming a new hotspot/ a new Boston.
Serious question I’d like some insight on. With the question of affordability, is it a lack of smaller houses with basic fixtures , or is it the mindset/expectations of current home buyers isn’t realistic? What I mean is do buyers currently want a 3 bed 2.5 bath 2,000 sqft home with granite countertops, hardwood/tile floors; on a 3 bedroom 2 bathroom 1,500 sqft laminate countertops/vinyl plank flooring budget.
There are vacancy issues in 78130, houses sitting unrented and unoccupied sitting on the market for months. The crazy part is, there seems to be so many homes and apartments being built, I have never seen building like this. This place is going to see a crash that makes 07 seem mild. The growth is scary. Apartment buildings going up in a week or two. Insane. Price reductions of 10- 15% not helping sales.
Good Morning. This was a great videos. Learned a lot. Would it be possible to make a similar video on the Orlando Florida area? I want to purchase a home and this weekend when to a neighborhood that offers new home. They offer closing cost and to lower the interest to 5.9 percent. All that sounds great but the home are starting at 450k. I think it way over priced. Pre-owned homes are also high. My question is the market over priced? My realtor said the new home is a good deal. No sure.
The area has been destroyed bye progressive policies taxachusett policies. 2% transfer tax on all properties 4% percent millionaires tax then they lowered the married filing jointly to 500,000 have you ever worked for anyone that was poor ? (democrats)?? Where do you think those entrepreneurs our going to go? There going take there jobs and$$$$money elsewhere this area is done period !!
I think its worldwide phenomena....here in the Caribbean , housing prices have ballooned since the pandemic.....making it next to impossible for locals to purchase a home. The bubble is bursting here in the Caribbean
Moved out of the North Shore in 2020. Massachusetts has been going downhill since, I visit every week and can’t believe the absolute decline in seeing overall. Homeless camps, drugs and needles and trash all over, tons of graffiti. And not to sound racist…. A huge increase in migrants. Very glad I left and moved North!
Where are all these people moving to? I know some have fled to Florida, but where are all the people leaving these big ciries moving to? The midwest? Because my friends say there is no issues in their states and some have seen their equity still going up with people moving in. Homes are selling withing days of being put on the market. It has me wondering if these blue city folks are moving to the midwest. If they are, that'll keep the midwest pretty good, right? Im just curious: If you left your state, where did you go? And are you liking it better? Was the trade-off worth it? The mid west doesn't seem so bad except the weather. It definitely seems more affordable.
The Midwest is great because of that. There are so many companies here and moving here, and people keep moving because of the cold. I have many friends that would rather suffer in the warm weather than get ahead in the cold.
Too many investors here, too many regulations to avoid new big constructions as well. As a contractor, personally I have at least 25 customers with more than 500 units for rent, each here between townhomes, condominiums and single families. The whole real estate market here is concentrated under 200 mega investors. Regulations on new construction protecting big guys here are other big part. ...and off course, I'll not say anything about laundry "plata"
In the uk. Realtor fees are around 2% - seller pays plus legal fees - it’s a sliding scale. Buyer pays- legal fees, searches, property survey fee, (structure, electrical etc) title transfer fee, stamp duty 0 to about 4%, I think - it’s a sliding scale
I been keeping my eye on Boston for 2 years now and let me tell it’s not going down just the lot / land for sale in safe neighborhood cost 400k without home 🤯 and there’s bad neighborhoods you definitely don’t want to live ( so prices little bit cheaper)
24 YEAR Boston and south shore investor/ builder here. The student base tends to stay here because they love mass. Companies come here to draw from a highly educated labor pool. Its a played out seen with a ton of gentrification going on but just as 2008 the Boston market always holds up. There are literally 2 different economies. Your either poor living on the system or middle to upper class kickin ass. Theres no foggy area. Good luck people. Its a very sophisticated market here.
The other local factor is the new MBTA act that requires more densely populated housing near t stations. Local town policies have been making it the difficult to comply with the new state requirements
The act does not actually require the multi-unit housing to be built. What is required by the end of 2024 is the town must designate and rezone to allow multi-family housing to be built. The amount of land and units is set by the state. Of course we know the next step after getting the zoning in place will be the state saying you must now build but that as of now has not happened. With the more densely developed towns/cities the only way you will actually get all of the building done to take the land by eminent domain which is going to be hard. Let's see, the city/state is going to grab 10 houses so a private developer can build a big apartment building and make tons of money. That is not going to be an easy thing to accomplish. The other areas where towns/cities will protest is once the development starts the state better be ready to step in with cash for more schools, fire stations, police and dpw. Adding 750 - 1000 units of 3 bedroom housing will have a huge impact to the majority of the communities. I know this because I am currently working on a special committee in conjunction with the planning board in my town to become compliant with the mandate.
This is a great interview and discussion about the current state of the Boston real estate market. The proposed tax on property sales over $2 million could definitely have an impact on the market, and it's important to find ways to address the housing affordability issue. Thanks for sharing this insightful interview!
“Affordable housing” is defined by a bureaucratic process, often based in part on census data about household incomes. Those amounts do not necessarily align with the concept of affordability the community and politicians want to achieve. Certainly not low income housing.
I enjoy the information about the real estate market that your show provides. However, your guest on this podcast mentioned it the interest rates go down, he will advise people to get back in the market to buy. He didn’t mention the fact that buyers shouldn’t be chasing interest rates; buyers need both the price point to decline first then evaluate the interest rate to determine home affordability. Buyers can’t renegotiate the purchase price but they can refinance to get better interest rates.
This advice is tailored to Eastern Massachusetts, not nationwide. My suggestion is a potential buying opportunity will come when interest rates begin to fall. The reason being is that initially, market hesitancy WILL occur, but once rates reach a perceived low, more buyers, particularly first-timers and those needing to sell to buy, will enter the market. The hesitation period could present a buying opportunity. (Again my opinion) However, inventory may not increase, as those selling to buy will keep the net inventory unchanged. If a home purchase offers significant lifestyle improvement/ quality of life and isn't a financially incompetent purchase, it's advisable to proceed, especially in the Boston area. We always use past data to guide future decisions, but any certainty about market trends is very difficult to predict. If anyone wants advice on any of these markets, neighborhoods, micro-neighborhoods, etc let me know. Happy to provide a super detailed analysis for you.
Thank You for your content … I live in the state of Hawaii where salaries are comparatively some of the lowest in the nation however average price of a starter home is now at 1,000,000….any thoughts on this market?
People are leaving tax prone states in droves. Of course there will be price fluctuations. Pretty soon residents will be ‘taxed’ if they leave. They already want to tax anything nailed down and things not nailed down.
I’m in the North Shore area of Boston. I’ve been looking, making bids and finally gave up buy in this area. I’m not counting on the market becoming more affordable.
North shore is difficult prior to and post pandemic. Not many listings on and the good one sell quickly. It's good to have a strategy to get something off market
As long as Boston remains a huge STEM hub, prices will simply continue to rise. I've been here for 25 years and it's crazy how areas that use to be scary to walk thru are now fully gentrified (Jamaica Plain is a great example).
Demoralization is setting in as reality does as well, past the FOMO phase. Inflation is out of control and cash buyers, foreign investors, corporations come in and snatching up all prime real-estate keeping prices elevated as there's less competition still paying the top dollar bc they can afford to until they own everything. 1
I recently bought in the Boston metro area. Last Feb, I looked at one home that had 200 people show up to the first open house. The market has slowed, but not enough to make it reasonable for most families. I don’t think prices will drop that much, which is why I went ahead and bought last spring - as a first time home buyer. Taxing transactions does not solve the issue that by allowing the Fed to suck up half of all mortgage debt and specifically target housing as an area to inflate, the government basically put more cash into homeowners pockets and stole from anyone who tried to buy after 2020.
The Fed is dropping assets off their balance sheet via QT. Prices will adjust and many of you will be left holding the empty bags after paying peak prices. Good luck!
Every one talks about Davidson/Williamson co, but Sumner/Wilson co areas is where the more affordable home for middle-class families are! Prices have decreased a few thousand dollars in the past few months, but still averaging 450k… Will the drop continue into next year? If I buy by December is it likely that I’ll be underwater by December 2024 due to prices coming down slowly but surely?!?
I’m in Southern California Coastal area. I keep getting letters from our real estate industry saying we’re up 1.6% compared to last year. I’m wondering if we’re going to get hit bad, too. They forecast next year another maybe 1% up for 2024. Wondering if all neighborhoods will get hit, or some? We do not have many homes for sale here and I’ve noticed many Florida and Texas plates moving into California.
I live in Southern California too. Perfect weather by the Coast. Limited supply for sale. People moving here from around the country. In the desirable areas prices will continue to go up.
Calgary, Alberta, I make less than 50K annually, working 6 days per week 14 hour days, and only get paid for 10 hours, but at 30/hr doing gravel hauling. Yet if I try and get a so called "good job" in a so called "tech" field with my college education and decades of "tech" experience, I can make 18-20/hr for 8 hours which is about 40K annual (If I'm lucky). Oh, and I'm single, no kids, no debt, no mortgage...like as if I could afford one!!!!
I'm watching a number of properties here in Cambridge that stand out for high rent and sales prices---many are sitting with multiple price cuts for months. Definitely a ton of delusional sellers, including many investors who think it's still early 2022.
Hi- can you please do some details on Long Island in NY? It is it’s own state essentially competing with NYC and west Chester/ white plains area. We are seeing some changes, however paying twice what my old house was for half of it in a less desirable area does not leave me hopeful. I have an average paying job 85/90k, savings which should buy a house outright pre-covid. I believe March and April could give us some clarity and can hold on longer but I do like to plan. I am an older mom of 9 year old twins that really need their own rooms. Please pick Long Island next. Please and than you!
Wellesley top end appears to be impacted but normal ( still massively overpriced) family homes are still selling. Many around us are still selling over initial listing price.
What is government basing taxes off of? Telling my house is worth more so i gotta pay more taxes ..efectively raising my monthly mortgage $250. Bought in 2021, NE Baltimore, 2 blocks from the county. Still live extra traffic from being near a main street conduit... meaning exta traffic noise, subwoofers, and people litter like asshats. I feel im being over charged.
@@SachsRealty Criminalize the AirBnB realty vultures. Pretty easy to do via subjecting them to hotel regulations, constant inspections, enhanced tax rates.
moved to the mid west 25 years ago from Woburn, north shore area...It's great here. Pristine, great mother nature things to do hunting, camping , fishing ,the milky way!! ...low crime...very few liberals and we like the 2nd amendment low taxes
For a crashing real estate market, Boston home prices are pretty high. Looks like they're going to crash all the way up to multi-millions for the average home pretty soon.
Thanks for watching and the support everyone!
Mike you’re knowledge and professionalism shines! Thanks for the interview, honored to have you on our network. sachsrealty.com/mike-urban/
The skipping to please Yourube on the REAL problems here is hilarious! All women renowned socialist Communist the PLAN is to create a centralized area to the poor & enrich the rich to gated communities! Oh & the CRIME here is OUT OF CONTROL
Thanks for spreading the truth. ❤
Fearmongers. You clowns have been wrong about a housing crash for 2 years.
Who do you want for the next president and why?
57 yrs old, born, raised + still live here. Have watched state turn from blue collar + Hi-Tech to liberal policies hellhole. Reason I bring this up is the area prices won't be sustainable now that they've destroyed the middle class here. If it weren't for all the colleges, Boston would be just another Baltimore - a small, crime ridden, drug infested, welfare dependent East Coast city.
Spot on.
They always say they are for the middle class, but when all is said and done, there are only the rich and the poor after they are done.
I disagree on one point. housing prices need to come down. Let the market forces bring it down. Interest rates are at its normal or average rate in last 70 years. 7-8% is actually average in mortgage rates. Houses are just over valued.
Yup, 10-12% was the norm in the late '70s.
@@paulmarshall9189 id rather pay that high on a $200k house then 2.3% on a $600k house
Are you sure they are over valued? I have built houses from 50 million to 50K.
This is the deal, Builders can not work for free. Everyone has stopped building in my markets. Because there is no $$$ to be made. And the risk is massive.
Everyone I know, has stopped building. If it was easy. Everyone would do it, as they say.
Remember all markets are local and this is just a few neighborhoods.
@@angelobalbi OK< lets be fair here. I did say that I shut down.
BTW Everyone I know has stopped building houses/Multi-Family, etc. What are people going to buy? Air? Grass Lot? Cardboard box?
I would like to ask you. Do you think construction workers are lazy? weak? dumb? Or do you think that they are the hardest workers in a civilization? Along with farmers?
Now I would like to ask you, how long to you think it takes to build a construction company. One life time? Maybe two generations? Or three generations? working 14 to 18 hours a day, Seven days a week?
Now this is the part I do not think you will like, (The scary info)
How many guys like me, do you think got of out of the game? 50%, 60% 80% maybe 90% or even more, of the builders?
Everyone I know has got out and I do not think they will come back. Office jobs are easy and pay well.
Do you know how long it takes to build a house? Even a small house?
Now take a guy like me that would build 40 Acers of housing at a time, and had generations of conations. (We would buy lumber straight from the mill. We helped them get running) Keeping all the best subs working and paid, know all the city's BS, the states, BS and the Feds BS.
BTW the City's, States and Feds all LOVE to change the rules right in the middle of the game. Some young engineer, that has zero experience will get a hair up their @ss. ( What do they have to lose/ Tax payers, pay for their wages) This make the project go over budget and all the profit is lost.
Not only do builders, big and small, work for free. They lose money.
Do guys like you want to take the massive risk? Heck, I see on YT all the time, people can not even get a shed built on their land.
One more question. Do you think houses are perishable. Or do you think they last for a life time?
How long do you think a empty house will last in the U.S.? Say a foreclosed house?
BTW, I did not even say anything about the price of building materials or not even being able to get them. The suppliers have HIT THE WALL as well.
What are builders to do? Buy all the materials before the house is started? Maybe stack them up on a lot with a tarp over them?
IDK, Maybe I have a birds eye view, And you don't have a clue. But I could be wrong.
I think the real problem is the government braking the law and living in tax payers pockets. As the Federal Reserve Bank prints money that is NOT backed buy anything of value and giving it to their GOOD BUDIE's as we all get f%cked.
And I think they did this until the whole system melted down.
What do you think?
@@ironwoodworkman4917no money to be made cause no one can afford. Cant keep rising in price growing profits when it’s mismatched with ability to buy
Should we stop allowing non US citizens to buy homes? Makes no sense why i should be outbid by someone who doesnt even live here
Totally agree!
America has always been 4sale to the highest bidder.
We are the only country that allows this. Americans can not go to Mexico and buy property
I mean, Americans can purchase homes in other countries without being citizens. Look at the huge amount of American citizens moving to Mexico and the rest of Latin America. The issue is the greedy realtors, and institutional investors.
Very bad idea. America will go bankrupt.
I'm in Western MA and every single house in my city on Zillow is in the red, losing value. This, after realtors for the last 3 years said it will never go down again. They are the biggest Liars in any profession I have ever seen.
Appreciate your honesty 🙏
In central Mass. I tried to sell my home but the realtor I selected was trying to manipulate me , she was working her own book, citing a cash buyer she had lined up. Very corrupt.
That’s too bad. It is super important to interview hard.
Up their with lawyers
Real estate agents are just idiots with a license to sell a house. Lawyers definitely take the cake when it comes to lying.
Grew up in Danvers, Salem, and Beverly Mass. That was the damn coolest place to grow up. Boston super close, Hampton beach super close, seafood. It was just the best childhood/teenage years.
great bands and fun night clubs
Southern Maine is now the suburbs of Boston. Huge migration from “Boston” area pushing prices way up. Hybrid commuters can easily handle the trip in via train or commuter rail. MA Money goes much further in ME but pricing out local Maine workers who can’t afford to buy now .
Lol, there's no trains or commuter rails between Maine and Boston. Lmao.
You are wrong. Downeaster runs from Maine to North Station. And a quick drive to Newburyport or other north Shore locations you can take the commuter rail or even the orange line. I live here and have done it for 20+ years.
Lots of those single family homes in Maine are recorded as multi family under llc’s. In other words are commercial property. Many who bought are regretting.
I'm in Boston as well and its just not worth buying in the city, even if prices come down. You pay so much for so little space, your house is sitting right on the street almost and if you get a parking spot you're lucky. Furthermore, Boston, in the last 5 years has seen an insane surge in traffic, I feel bad for people who have to commute to work daily, it is miserable. Public transportation wise, the MBTA somehow gets worse and worse every year despite the city pouring billions into its transit system.
I plan to purchase 30-40 mins outside of the city, more space, prices are coming down, better quality of life.
MBTA is a miserable experience. Decades of deferred maintenance.
Who wants to buy a house in the city?
You can get a lot for your money if you go south of the city, but the traffic is horrible. Up north (we're in stoneham) there's still little inventory
@@mikeurbanGood to know, many thanks Mike. I work full remote and do not see that changing in the foreseeable future, the traffic won’t impact me, at least in terms of driving to and from work.
Move to Stoughton
I love a good story from Taxachusetts, the sixth worst state in property tax competitiveness. The Boston City Council wants 2% of real estate sales to do what? I KNOW! They'll create a city commission to hire their political friends at well above average salaries to "work" at housing assistance programs and donate cash back to their re-election campaigns. They're so altruistic and benevolent, be still my heart!
That's so true 👍
yeah I will bet money that they will come up with zero affordably housing after the city gets involved. lol
I'm in Boston and I'm seeing homes stay on the market more. The problem in Boston is that we don't have enough homes here. There is no place to build. I saw prices drop in the early 90s and around 2008 to 2010. Early 90s was worse than 2008.
Too many regulations as you know. Best wishes 🙏
I'm in Waltham and I'm seeing more homes for sale every day. No one notices the tidal wave when its out at sea. As it approaches, it gets larger and larger.
Yet you got folks who don't do real estate. Saying Boston is booming and it not going to crash out.
@@SachsRealty Aka strip slum prevention.
Here in California, we still have small bidding wars. LOCATION LOCATION LOCATION
Thank you for covering the Boston market! I've been waiting for this information and the direction it's heading.
Our pleasure 🙏
DONT invest here! You’ll make ZILCH!
@@mikeurbanWe are run by communists JUST say it Mike! RE is Over nation wide RENT control Nationwide is coming-only rich can afford the losses! Go back to snipping electrical wire you be better off -the taxation to END the middle class will not stop 🛑 in Boston! FINITO Ben doing RE for 33 years in Boston WHATS going on is pushing the middle class OUT!
Stay away from condos. Management companies and shady condo associations are like mafia families. The best thing about Boston is the convenience. It’s a small town area wise. I bought 2 REO condos in 2010 and 2011 thanks to the housing crash. I see the same properties back on the market at twice what I paid. I won’t entertain 100% mark up for a fresh coat of paint and some new appliances. Be patient. Prices in the city will drop again. The banks haven’t been forcing foreclosures because they already experienced what happened from 08’ to 10', when they flooded the market with REO’s. A lot of people fell behind during the 2 year lockdown. There are a ton of delinquent borrowers who are not being foreclosed on because they’re paying something and not just ghosting the lenders(like 08' to 10’). I don’t know what’s going to trigger another wave of foreclosures but something definitely will. Sit tight, stack money and keep your credit in tip top shape and you’ll steal something off the market.____Good luck in your endeavors.
Home values are declining in upstate New York, and New Hampshire. I hate seeing people suffer after buying at the peak. This will be horrible for years. Just like 2008.
Can't wait til the Spring so I can sell my house of 30yrs on Cape Cod. Ready to get out of this state. Born and raised in MA, but the current state of affairs and the politics in this state has driven me out of here. 🙏🇺🇲✌️😎
We left the cape 2 years ago, sold house and business, took $$$ and ran away from Assachusetts.
@jeaninekelly4271 Congratulations! May I ask where you moved to? I'm actually thinking of going off grid in northern Maine.
Sell it now before prices go down
@michaelokeefe6902 I was thinking the same thing. I've got a bad feeling about the housing market. Thanks. 🙏🇺🇲✌️😎
Thanks for doing this show in Boston! ive been noticing price drops increased DOMs in my market north of Boston, Im holding tight and earning 5% on my large down payment. Im not biting this insanity
Good idea!
I’m in western MA, many transplants in Northampton from Boston and NY. Local salaries can’t compete. Seeing a lot more ‘back on market,’ relisted properties, price drops. Sales on Redfin are still showing $10-50+k over asking, not sure if it’s from price drops that got bid higher or what. Some houses sitting. Many houses not worth buying as well. It’s a mix. I hear Amherst housing market is horrible, as mentioned in this video.
If the gov is going to monkey around with taxes, why not tax breaks for owner-occupied units to financially incentivize owner-occupants over investment properties.
They do its called homestead property tax. The break varies by location but typically you get a percentage off and caps on how much they can raise the property tax. This is one reason rent prices can go up drastically. Since investors are not protected from price hikes. If the property value doubles, so does the property tax. which gets passed on to the tenant.
Because owner-occupants don't have a lobby group.
No one wants their landlord living out of an RV behind the house
The govt already offers a big tax breaks for owner occupied properties in the form of imputed rent, tax deductible mortgage interest and local property taxes. The 1031 provision for landlords and developers is also extremely generous. We don't have anything similar for long term stock or bond investments.
@@iliketacos6067 now there's an idea to save some money 😅
Why can't they use the same money that was sent to Ukraine and Israel to build affordable housing here? It seems like when other countries have crisis we find billions of dollars to send to donate but we have affordable crisis here in America but only brilliant plan they came up with is to tax citizen more... smh It's a shame of what is going here, we pay taxes too and I bet we're going be on the hook for money that was sent overseas to bail out other countries with their crisis? It's sounds like we're running a racket with the American citizens... This just my opinion and my observation of all the mess we're dealing with here in America. Great Channel by the way!
In my suburb outside of Hartford CT of ~25k people, we actually achieved ZERO available single family listings last week. LITERALLY ZERO. Hartford county is still shockingly strong, and we’re only 90 minutes from Boston.
Another good show and topic. I like the straight forward way the economic market and facts are layed out. Could you do a show on the Boston suburbs in and around route 495 and the The Villages Florida real-estate markets? The Villages Florida seems to be a real-estate bubble of its own because half the homes are listed on the VLS and not on the MLS. The Villages can manipulate the market by holding back homes or adding additional homes.
I feel like literally everyone has amnesia about the 2008 market crash and pretend like it can’t or won’t happen again - except Todd and RealEstateMindset as far as I know. This country is sick and blind with greed that they ignore history.
That part!👏
I think it's because they see the circumstances as different, particularly in terms of the borrower profiles. But I do agree with you in that it can most definitely happen again. The insanity of home prices, rising 30 to 40% here in Florida, in just a 2 year period, is going to have consequences. American citizen's debt is the highest ever. People have taken a very cavalier attitude toward debt and it will eventually be crippling, bringing everything crashing along with it.
@@jann1717 this is very true. What people don't understand is the market may not crash under the same circumstances as before. Many people do not really have a clue of what is really happening behind the scenes.
Everybody in Massachusetts wants affordable housing…just not in THEIR backyard. Braintree just shut down a huge development in an unused parking lot at the South Shore Plaza. It would have added 500+ units, a third of which were designated for seniors. The town of Milton is trying to find a way to get out if the MBTA Communities Act, which requires towns to allow multi family developments near public transit. Time after time, residents shut down these projects, citing increases in traffic, lack of parking, and increased strain on public services. It’s not the politicians this time, it’s the people.
Not me, affordable housing complexes brings in undesirable people
That's because a lot of the residents of milton are entitled snobs.
Those 500 units would have been filled with illegals and paid for with your tax dollars.
A lot of people from the Boston area have moving up to NH now that working remotely has become more popular. That's really been affecting the housing availability there.
Guess what, many are getting called back to work now. At least hybrid.
Yeah I noticed, be really cool if they would stop inflating our market though because our incomes have gone nowhere and our property taxes are being driven through the roof. Just something to think about..
Moving to NH has been going on for decades.
This has been happening for a while. Moving to Maine and RI too
The commute is an easy trade off for hybrid workers. Boston housing prices does not work for ME and NH wages.
Left many years ago. Would never go back. High tax liberal state = no way! Taxachusetts 😮
Todd ur channel rocks please keep it on going much love from Boston
Well thank you! One of my best buddies moved to Framingham years ago. Love Boston!!
Thanks for watching 🙏
What sucks is that the government tries to tax more as if money is like water🤦🏿♂️.
there is no try with the government but it is all take
Water is finite, the US dollar is unbounded and infinite with the free for all money printing 😅
I love the Facts Todd Sachs puts out👍Y’all hit this man’s like button 👍👍
Thanks for the promo 💪
@@SachsRealty of course my Friend 👍
What facts? Fact is we are run by socialists that HATE capitalism and RE is capitalism or it’s only for the RICH
Thanks and I watch your content always! In Braintree MA I lost on a bud 2 weeks. The property had 18 offers. More expensive stuff is sitting a bit but median homes are still getting over asking.
Lots of places are still getting multiple offers
two factors to consider. 1) it is a huge pain to acquire land in a city, takes forever to navigate the permitting, hugely elevating the risk of a new project. Only high price luxury residences can justify this risk.
2) with the new products available, it is possible to build a really nice luxury residence, so why build a lower price place unless the location is less desirable, and property was cheap
Low income in Massachusetts is about $100,000 a year. Good luck with that.
Tax increase for corporations investing in the market, tax decrease for single family owner. The reason cash transactions are increasing is because corporations are buying and manipulating the market. Reduce their profits with taxation and the market will improve.
Not just corporations, but individuals owners of investment properties.
Since 2008 I’ve rehabbed and built many “affordable housing” units and homes in Ma. They were never affordable😂
Kingston 2 family beautiful colonial dropped over 200k - listed at 699k in late summer now it’s 489k - smh
Dorchester Center is safe now? Are the schools doing better in Boston? BPS is a horrible school system. Im happy to hear the downturn is starting, rent is ridiculous in the ideal surrounding area like Cambridge, Somerville, Newton, Arlington.
They're all moving to NH and Maine. Ruining those states
I live on Cape Cod, my family has since 1620, and Its looking like I may never own my own home here. Most houses are over 600k-800k and several are over 1 million
We have one coming up in East Dennis in about a week!
Cape Cod had some dark days (90s)where homes were selling crazy low prices why didn’t you buy then? I bought one in 2016 for 1/2 what its worth now, you need to strike when it makes sense
that's true! Im just losing hope the prices will ever come down@@msk3905
A few new commuter rails from Boston to New Bedford and Fall River would open up a ton of new residential real estate development along those railways.
I agree.
Don't expect it to happen any time soon though. They've been talking about extending lines to New Bedford and Fall River off and on for 20+ years now but nothing seems to materialize.
The commuter rail is in process thank god, but these cities in the south shore need great investment in the amenities and infrastructure to make them attractive places to live. I think its coming though, New Bedford just received a huge grant to redesign some of the areas/roads to make the area more pedestrian friendly I see these areas becoming a new hotspot/ a new Boston.
Serious question I’d like some insight on. With the question of affordability, is it a lack of smaller houses with basic fixtures , or is it the mindset/expectations of current home buyers isn’t realistic? What I mean is do buyers currently want a 3 bed 2.5 bath 2,000 sqft home with granite countertops, hardwood/tile floors; on a 3 bedroom 2 bathroom 1,500 sqft laminate countertops/vinyl plank flooring budget.
There are vacancy issues in 78130, houses sitting unrented and unoccupied sitting on the market for months. The crazy part is, there seems to be so many homes and apartments being built, I have never seen building like this. This place is going to see a crash that makes 07 seem mild. The growth is scary. Apartment buildings going up in a week or two. Insane. Price reductions of 10- 15% not helping sales.
Great information. Thank you both!
Love you videos Todd. Keep them coming!!
Thank you!! Action packed line up coming. 🙏
Good Morning. This was a great videos. Learned a lot. Would it be possible to make a similar video on the Orlando Florida area? I want to purchase a home and this weekend when to a neighborhood that offers new home. They offer closing cost and to lower the interest to 5.9 percent. All that sounds great but the home are starting at 450k. I think it way over priced. Pre-owned homes are also high. My question is the market over priced? My realtor said the new home is a good deal. No sure.
The area has been destroyed bye progressive policies taxachusett policies. 2% transfer tax on all properties 4% percent millionaires tax then they lowered the married filing jointly to 500,000 have you ever worked for anyone that was poor ? (democrats)?? Where do you think those entrepreneurs our going to go? There going take there jobs and$$$$money elsewhere this area is done period !!
I think its worldwide phenomena....here in the Caribbean , housing prices have ballooned since the pandemic.....making it next to impossible for locals to purchase a home. The bubble is bursting here in the Caribbean
Left Boston for 🇩🇴. Prices are ridiculous here
WOW! MPRESSIVE! THANKU, BOTH.
Moved out of the North Shore in 2020. Massachusetts has been going downhill since, I visit every week and can’t believe the absolute decline in seeing overall. Homeless camps, drugs and needles and trash all over, tons of graffiti. And not to sound racist…. A huge increase in migrants. Very glad I left and moved North!
Where are all these people moving to? I know some have fled to Florida, but where are all the people leaving these big ciries moving to?
The midwest? Because my friends say there is no issues in their states and some have seen their equity still going up with people moving in.
Homes are selling withing days of being put on the market. It has me wondering if these blue city folks are moving to the midwest.
If they are, that'll keep the midwest pretty good, right?
Im just curious: If you left your state, where did you go? And are you liking it better? Was the trade-off worth it?
The mid west doesn't seem so bad except the weather. It definitely seems more affordable.
The Midwest is great because of that. There are so many companies here and moving here, and people keep moving because of the cold. I have many friends that would rather suffer in the warm weather than get ahead in the cold.
Great content. Can you do New York next
Too many investors here, too many regulations to avoid new big constructions as well. As a contractor, personally I have at least 25 customers with more than 500 units for rent, each here between townhomes, condominiums and single families. The whole real estate market here is concentrated under 200 mega investors. Regulations on new construction protecting big guys here are other big part. ...and off course, I'll not say anything about laundry "plata"
In the uk. Realtor fees are around 2% - seller pays plus legal fees - it’s a sliding scale.
Buyer pays- legal fees, searches, property survey fee, (structure, electrical etc) title transfer fee, stamp duty 0 to about 4%, I think - it’s a sliding scale
I been keeping my eye on Boston for 2 years now and let me tell it’s not going down just the lot / land for sale in safe neighborhood cost 400k without home 🤯 and there’s bad neighborhoods you definitely don’t want to live ( so prices little bit cheaper)
in the so called "bad neighborhood " of Boston land is selling for $400,000 with out a home too. I live here so don't try to sell that story!!
Great facts! As a potential buyer.. it’s nerve wracking.. housing is Essential
24 YEAR Boston and south shore investor/ builder here. The student base tends to stay here because they love mass. Companies come here to draw from a highly educated labor pool. Its a played out seen with a ton of gentrification going on but just as 2008 the Boston market always holds up. There are literally 2 different economies. Your either poor living on the system or middle to upper class kickin ass. Theres no foggy area. Good luck people. Its a very sophisticated market here.
The other local factor is the new MBTA act that requires more densely populated housing near t stations. Local town policies have been making it the difficult to comply with the new state requirements
The act does not actually require the multi-unit housing to be built. What is required by the end of 2024 is the town must designate and rezone to allow multi-family housing to be built. The amount of land and units is set by the state. Of course we know the next step after getting the zoning in place will be the state saying you must now build but that as of now has not happened. With the more densely developed towns/cities the only way you will actually get all of the building done to take the land by eminent domain which is going to be hard. Let's see, the city/state is going to grab 10 houses so a private developer can build a big apartment building and make tons of money. That is not going to be an easy thing to accomplish. The other areas where towns/cities will protest is once the development starts the state better be ready to step in with cash for more schools, fire stations, police and dpw. Adding 750 - 1000 units of 3 bedroom housing will have a huge impact to the majority of the communities. I know this because I am currently working on a special committee in conjunction with the planning board in my town to become compliant with the mandate.
This is a great interview and discussion about the current state of the Boston real estate market. The proposed tax on property sales over $2 million could definitely have an impact on the market, and it's important to find ways to address the housing affordability issue. Thanks for sharing this insightful interview!
“Affordable housing” is defined by a bureaucratic process, often based in part on census data about household incomes. Those amounts do not necessarily align with the concept of affordability the community and politicians want to achieve. Certainly not low income housing.
I enjoy the information about the real estate market that your show provides. However, your guest on this podcast mentioned it the interest rates go down, he will advise people to get back in the market to buy. He didn’t mention the fact that buyers shouldn’t be chasing interest rates; buyers need both the price point to decline first then evaluate the interest rate to determine home affordability. Buyers can’t renegotiate the purchase price but they can refinance to get better interest rates.
This advice is tailored to Eastern Massachusetts, not nationwide. My suggestion is a potential buying opportunity will come when interest rates begin to fall. The reason being is that initially, market hesitancy WILL occur, but once rates reach a perceived low, more buyers, particularly first-timers and those needing to sell to buy, will enter the market. The hesitation period could present a buying opportunity. (Again my opinion) However, inventory may not increase, as those selling to buy will keep the net inventory unchanged. If a home purchase offers significant lifestyle improvement/ quality of life and isn't a financially incompetent purchase, it's advisable to proceed, especially in the Boston area. We always use past data to guide future decisions, but any certainty about market trends is very difficult to predict. If anyone wants advice on any of these markets, neighborhoods, micro-neighborhoods, etc let me know. Happy to provide a super detailed analysis for you.
I loved this video I’m in the area and the prices are astronomical
Thank You for your content … I live in the state of Hawaii where salaries are comparatively some of the lowest in the nation however average price of a starter home is now at 1,000,000….any thoughts on this market?
I love you're channel I've recently became a sales associate and find you very informative. Keep up the good work!
Awesome, congratulations and wishing you big success.
Please share your insights on California market
Here you go. This is from a couple of weeks ago. California's Policies Are Destroying Their Housing Market
ua-cam.com/video/HjV_c9IQcEE/v-deo.html
People are leaving tax prone states in droves. Of course there will be price fluctuations. Pretty soon residents will be ‘taxed’ if they leave. They already want to tax anything nailed down and things not nailed down.
Make sure you look good at the state you are moving to because Florida will find a way to make you pay via toll roads.
California wants to tax citizens leaving that state
Are you talking about affordable housing or low income house?
The Greatest Depression is still very much in the cards, barreling down on us like an overloaded freight train 😳
I’m in the North Shore area of Boston. I’ve been looking, making bids and finally gave up buy in this area. I’m not counting on the market becoming more affordable.
May I ask what you do for a living? Are you remote?
@@SachsRealty I work at a Boston hospital. I’m not remote worker.
@@rank1839 Hang in there and save as much as you can. Cash will be king! Reach out to Mike, I trust him to keep an eye out for you.
North shore is difficult prior to and post pandemic. Not many listings on and the good one sell quickly. It's good to have a strategy to get something off market
As long as Boston remains a huge STEM hub, prices will simply continue to rise. I've been here for 25 years and it's crazy how areas that use to be scary to walk thru are now fully gentrified (Jamaica Plain is a great example).
There will never be "affordable housing" in Boston or anywhere in Massachusetts. Never.
I hope Maine is next, it's run down and overpriced housing cost is killing me.
Demoralization is setting in as reality does as well, past the FOMO phase. Inflation is out of control and cash buyers, foreign investors, corporations come in and snatching up all prime real-estate keeping prices elevated as there's less competition still paying the top dollar bc they can afford to until they own everything. 1
Interesting times.
I recently bought in the Boston metro area. Last Feb, I looked at one home that had 200 people show up to the first open house. The market has slowed, but not enough to make it reasonable for most families. I don’t think prices will drop that much, which is why I went ahead and bought last spring - as a first time home buyer.
Taxing transactions does not solve the issue that by allowing the Fed to suck up half of all mortgage debt and specifically target housing as an area to inflate, the government basically put more cash into homeowners pockets and stole from anyone who tried to buy after 2020.
The Fed is dropping assets off their balance sheet via QT. Prices will adjust and many of you will be left holding the empty bags after paying peak prices. Good luck!
What about the 15 min cities they are implementing in a bunch of major cities and Boston is one on the list
Did they legalize disposing of bodies with acid vats too? Asking for a friend.
Can you do middle Tennessee next?
Like sumner/wilson county area?!?
Every one talks about Davidson/Williamson co, but Sumner/Wilson co areas is where the more affordable home for middle-class families are! Prices have decreased a few thousand dollars in the past few months, but still averaging 450k… Will the drop continue into next year? If I buy by December is it likely that I’ll be underwater by December 2024 due to prices coming down slowly but surely?!?
Moved out of that dumpster hole 40 years ago, would never go back.
I’m in Southern California Coastal area. I keep getting letters from our real estate industry saying we’re up 1.6% compared to last year. I’m wondering if we’re going to get hit bad, too. They forecast next year another maybe 1% up for 2024. Wondering if all neighborhoods will get hit, or some? We do not have many homes for sale here and I’ve noticed many Florida and Texas plates moving into California.
I live in Southern California too. Perfect weather by the Coast. Limited supply for sale. People moving here from around the country. In the desirable areas prices will continue to go up.
Calgary, Alberta, I make less than 50K annually, working 6 days per week 14 hour days, and only get paid for 10 hours, but at 30/hr doing gravel hauling. Yet if I try and get a so called "good job" in a so called "tech" field with my college education and decades of "tech" experience, I can make 18-20/hr for 8 hours which is about 40K annual (If I'm lucky). Oh, and I'm single, no kids, no debt, no mortgage...like as if I could afford one!!!!
Yea I can't afford my kids either 😅
Here in Southern New Hampshire home for sale lawn signs are popping up for the 1st time in years.
I'm watching a number of properties here in Cambridge that stand out for high rent and sales prices---many are sitting with multiple price cuts for months. Definitely a ton of delusional sellers, including many investors who think it's still early 2022.
Cambridge is crazy expensive .Average 3 bedroom is 2 million dollars
This is true. The properties I'm watching are insane even for here ($6-7K for a 2 bedroom in a not great area for example)@@matildesantos4215
From MD now living in the Seattle area since 2019. This market isn’t cooling down enough here yet!
Good job!. Looking forward to a session on the greater Atlanta area
Hi- can you please do some details on Long Island in NY? It is it’s own state essentially competing with NYC and west Chester/ white plains area.
We are seeing some changes, however paying twice what my old house was for half of it in a less desirable area does not leave me hopeful.
I have an average paying job 85/90k, savings which should buy a house outright pre-covid. I believe March and April could give us some clarity and can hold on longer but I do like to plan. I am an older mom of 9 year old twins that really need their own rooms.
Please pick Long Island next. Please and than you!
Wellesley top end appears to be impacted but normal ( still massively overpriced) family homes are still selling. Many around us are still selling over initial listing price.
Good time to move to New Hamphire?
Take away the expectation of asset appreciation and there's an air gap in pricing between buyers and sellers.
Thanks. As someone who grew up 8n the suburbs of bean town I found it refreshing.
Prices are still going up in Boston and people are still overbidding for houses.
Even 50 miles south where I live. People are tapped bigtime..been grocery lately..opened utilities bills inflation is out of control…
If there's a new tax to address affordability, it should be a federal tax on income from investment properties.
Just sold my house Nov 1, 10k over asking in SoCal
What is government basing taxes off of? Telling my house is worth more so i gotta pay more taxes ..efectively raising my monthly mortgage $250. Bought in 2021, NE Baltimore, 2 blocks from the county. Still live extra traffic from being near a main street conduit... meaning exta traffic noise, subwoofers, and people litter like asshats. I feel im being over charged.
Solve the housing crunch in Boston in 5 minutes : Ban Air BnBs 100%.
That many? 😮
@@SachsRealty Criminalize the AirBnB realty vultures. Pretty easy to do via subjecting them to hotel regulations, constant inspections, enhanced tax rates.
I thought it is common knowledge regarding supply and demand as well as locationX3
Lawrence Ma is doing a great job addressing the housing shortage. They are building some beautiful apartment buildings. It's cleaned up alote.
Lawrence…who would ever consider moving there?
Lawrence has had ups and downs, but it's incrementally done better through the decades...
@@msk3905 not me. They have a barber shop on every corner on 28. Why do they need that many? I say some of them are fronts for illegal activities.
@@ruffian-wl1nd i net you are right
Great interview! The rates will stay higher for longer!
Traffic is already very bad in Boston, we don't need much new development.
Traffics bad in the DMV also. Still building.
Yea they're killing us 😢
“Not in Montgomery, Texas!”
Enjoy!
🤘😎🤘
Keep me posted.
moved to the mid west 25 years ago from Woburn, north shore area...It's great here. Pristine, great mother nature things to do hunting, camping , fishing ,the milky way!! ...low crime...very few liberals and we like the 2nd amendment low taxes
The old suffolk downs racetrack is a big development project. Look it up.
For a crashing real estate market, Boston home prices are pretty high. Looks like they're going to crash all the way up to multi-millions for the average home pretty soon.
My uncle built houses in southern central MA. Only big houses were worth building. Not that he wanted to only build those.
I love the Boston market, the 3 piece dark is the best and you get cornbead!
Thank you for this video