Boston – where millennials cannot afford to buy a home
A recent Bloomberg article cited a study showing 13 cities where millennials cannot afford to buy a home. While Boston is not as a bad as some of California’s cities, it still ranked number 10 on the survey.
There is, of course, a solution for people who are being priced out of Boston (or who want to take their profits) – move to Marblehead, as many people are. (more…)
Buying is still cheaper than renting in Boston
After all the reports of sky-rocketing condo prices in Boston it may come as a surprise to read that buying is still cheaper than renting in Boston, but that is the statistically-based claim made in the Buy vs Rent Index produced by Florida Atlantic University and Florida International University.
Here is the chart for Boston:
GE to move to Boston
As has by now been widely reported GE is moving its corporate offices from Fairfield, CT to BOSTON. This is great news for the city, as GE’s move will likely attract other businesses, as explained in the Boston Globe’s GE has selected Boston article.
And, of course, the move will only serve to add demand to the real estate market, both in Boston and nearby towns with ready access to the city. Just to remind GE execs, you can get to the Seaport district – reportedly where GE is looking – from the North via the Ted Williams Tunnel…. (more…)
Lies, damned lies and statistics in Cambridge
Frustrated by the inaccuracies of so many real estate “statistics”, the first article I wrote for the Marblehead Reporter in 2008 was Lies, damned lies and statistics. My goal in Oliver Reports is both to report on numbers in real estate and explain their significance – or not. There is nothing I find more frustrating than seeing a number reported without context and without understanding from the writer. Which takes me to Lies, Damned Lies and Statistics in Cambridge. (more…)
Why Boston is better than San Francisco
While Boston.com’s Why Boston is better than San Francisco for software engineers refers to software engineers, it helps to explain the influx of such people into the Boston area: “Boston is a really interesting market. Some markets have a lot of great companies, but not enough talent or vice versus. Boston has a vibrant community of both.”
Earlier this year the job site Glassdoor wrote: “It’s clear Boston is home to a very vibrant job market right now with many thriving industries, spanning education, healthcare, tech, and more. Job seekers should know that Boston is a great city to find a variety of jobs and new opportunities.”
The influx of people is, of course, a major factor in driving up both rents and home prices. (more…)
A drone aerial view of Boston
We know that aerial views are great – we love looking out of plane windows as we fly over cities – and now drones allow us to have aerial views much more easily.
The drone video below was shot by Michael Griffith and posted on YouTube:
https://www.youtube.com/watch?v=WOUqNbX8-pw
(more…)
Open House bonanza
There is a saying that a week is a long time in politics. Well so too in real estate. Last week this list showed 36 Open Houses; today there are 123. (more…)
Sales and Median Prices Town by Town
As promised in my Are home sales really booming? article this weekend I am now publishing a town by town guide to Sales and Median Prices for the year through August. (more…)
Boston condos still selling over list price
According to the Boston Business Journal Greater Boston condos sold over list price for the fourth consecutive month in July. (more…)
Can Dukakis and Weld bring the North Shore respect?
I get fed up reading articles about real estate in Eastern Massachusetts which routinely ignore the North Shore and Essex County, so I was intrigued to read Build the North-South rail link in this week’s Boston Globe, a coherent and logical argument in favor of connecting Boston’s North and South stations by rail. (more…)
New listings this week
The slow pace of new listings continues, but this weekend’s rainy weather gives buyers a good opportunity to get out and visit Open Houses, a list of which I shall publish as usual tomorrow morning: (more…)
New listings in mid-July
Here are this week’s new listings: (more…)
Who is John Kerry’s new neighbor?
A couple of weeks ago I posted John Kerry or a 6 car heated garage? comparing two nearby Beacon Hill properties: one had a 6 car heated indoor motor court, the other no garage but John Kerry as a neighbor.
Which would attract a buyer first?
Well the verdict is in and the winner is….John Kerry.
“Who did you say is my new neighbor?”
Well we know the Russians have been buying up real estate in major cities, but I just can’t imagine Vl-d-m-r P-t-n hoping to become best buds while strolling round the square. (more…)
How quickly are homes selling in Boston?
According to a recent report from Redfin, homes in the Boston area (see map below) sold at record speed in May: (more…)
John Kerry or a 6 car heated garage?
Yesterday I posted How much would you pay to be John Kerry’s neighbor? about a house in Louisburg Square in Boston, listed by Brewster & Berkowitz (www.brewberk.com).
Today comes a listing from Robert Paul Properties (www.RobertPaul.com) of a nearby Beacon Hill house at 77 Chestnut Street. Here’s a comparison between the two houses: (more…)
Recent Comments