Buying in Boston, MA in 2022 - Real Estate CRASH coming soon??

[@LivingBoston]

What else does 2022 have you wondering about Boston?

[@ScottA2345]

The Boston area market can cool now and then - even tank in extreme times, but the overall trend is ever upwards.

[@cherubfyrepeace6902]

No inventory Northshore. There is absolutely no negation power. The prices are so inflated.

[@LivingBoston]

Good point, yeah I feel you it's very frustrating right now in the market

[@shunsukehaga6770]

Great and informative video! I am currently looking for a house to purchase given the fed rate hikes expected to happen soon. I am worried about the heated competition in the market and wondering how pessimistic I shall be to find a regular single-family, suburban house in a range of $450K~$475K with 20% down. Any thought?

[@LivingBoston]

It's definitely competitive, in some areas more so than others. If it's not competitive, at the very least things are going under contract quickly. You might not need 20% down if that's the main factor in your budget; I have plenty of people use 5% and 10% down much more frequently than 20% to get a bigger house for the same dollar value down payment!

[@JMM33RanMA]

I am no longer looking, but in over a year of looking several years ago, there is a factor that none of the real estate videos seem to touch. One thing usually touched on, because most Americans are car centered, is roads and parking. People in NYC and Boston may not even have a car. Boston is probably one of the worst places to drive, competing for worst with Quincy, Brockton and Providence [RI]. In the Winter there have been fights over parking places all over the urban area. So, what's the point? In my research, I discovered that rentals [and probably sales] had price differentials that seemed to be tied to public transportation. Some very similar apartments in similar neighborhoods had prices that seemed to vary depending on how many inches they were from commuter rail, subway or bus access as well as distance and transit time to downtown Boston. Where I live now I can walk to a station on the main rail line between Boston [MA] and Providence [RI], and take the commuter rail to Boston. By not paying the outrageous parking fee and using the train I save a lot on gas, get both a ticket and insurance discount, and have a comfortable trip. This beats being in daily traffic jams with more people than the total population of Wyoming. And the drivers here are not quite as bad I've experienced in the Middle East, or Jersey City!\ A presenter with this combination of professionalism, personality and knowledge/delivery of facts could make, if I may suggest it, a really good video incorporating the transportation factors.

[@LivingBoston]

Yes this is called transit oriented development and these trends occur wherever the MBTA and commuter rails expand; same in other cities when new bus routes, trains, or other forms of public transit are incorporated into new areas

[@jameswong3064]

Once the broad market feels the pain of the recession, inventories will grow significantly.

[@felixthecat2786]

I want to buy a condo in Boston in the next couple of years, do you think the prices will go down?

[@kimferzoco6755]

It is definitely very difficult for buyers right now. But, I think the market may have passed peek insanity. At least from my perspective, even some of us who “need” to buy and who have been looking for a while are starting to lose interest. So, there you go - less demand.

[@LivingBoston]

Agree completely. It can be super difficult and frustrating a lot of people are deciding to just keep renting for now after trying to buy a home.

[@WORLD-OF-MERLIN]

I plan on moving and buying in Boston, but it won’t happen until I retire with my pension from the City of Los Angeles. I’ve got less than 4 years left.

[@LivingBoston]

Hang in there and enjoy the warmer weather while you can!

[@wanderfulescape773]

There is no inventory in the outside areas

[@LivingBoston]

It's definitely tough in some areas with inventory right now