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The State of Massachusetts:

Discussion in 'Political Discussion' started by Run DMC, Sep 20, 2008.

  1. Run DMC

    Run DMC Rookie

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    Last edited: Sep 20, 2008
  2. PatriotsReign

    PatriotsReign Rookie

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    For whatever reason, it appears Massachusetts homes haven't declined as much as they should have. They will, but I think people in MA are just so stubborn and arrogant that they think "Eff that, I'm not going to put my house on the market for anything less than "x"". And what has happened? Our inventories are through the roof.

    Eventually, even the most stubborn are gonna hafta drop their prices. Homes MUST reflect incomes in any given area, that's just a basic economic fact of real estate. The ONLY reason they are so high in the first place is due to the huge increase in demand that resulted from relaxed lending standards which eventually led to speculative buying.

    But like the song, "Bye, bye Miss American Pie", those days are over and gone forever. Even if all the mortgage holders in danger of being foreclosed upon were bailed out, homes will still come down in value for a while. At least until the entry level market becomes affordable to families with incomes around $60K.
  3. sdaniels7114

    sdaniels7114 Rookie

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    Most houses around Boston are multi-family. A $2200/month mortgage payment ain't so bad when the rental unit brings in $1600/month.
  4. Run DMC

    Run DMC Rookie

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