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Old 01-04-2021, 07:40 PM
 
604 posts, read 561,889 times
Reputation: 747

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It is expensive.
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Old 01-04-2021, 08:17 PM
 
1,541 posts, read 1,125,554 times
Reputation: 739
What areas of real estate are in decline?
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Old 01-05-2021, 08:12 AM
 
837 posts, read 1,225,755 times
Reputation: 701
My town had a reevaluation last year. The tax bills reflect it. Ditto for the town next door to us. They're up in arms on the town's FB page.
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Old 01-06-2021, 07:24 AM
 
Location: Boston
2,435 posts, read 1,321,214 times
Reputation: 2126
Quote:
Originally Posted by simplexsimon View Post
What areas of real estate are in decline?
Haven't seen any beyond-the-margin-of-fuzzy declines around here (02116/02118), though things are holding flat when some of the outer burbs are going up 5-10%, so that's probably as close to a decline as it gets right now.

Redfin says sale price on condos fell around 20% YoY but the price per square foot remained flat, so that's likely attributable to the size/type of condos that moved last year (i.e., more smaller studios/1 bedrooms sold) rather than the prices themselves coming down. Time on market's a little longer, too. I'd say it's a buyer's market in Boston right now compared to the last 10 years.
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Old 01-06-2021, 08:08 AM
 
Location: Needham, MA
8,545 posts, read 14,025,464 times
Reputation: 7944
Hard to make any observations 6 days in. I'm guessing this thread was started for future observations.
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Old 01-06-2021, 08:14 AM
 
16,411 posts, read 8,198,277 times
Reputation: 11402
When I look at zillow, it forecasts a steep decline coming soon.
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Old 01-06-2021, 08:26 AM
 
3,808 posts, read 3,139,335 times
Reputation: 3333
Quote:
Originally Posted by MikePRU View Post
Hard to make any observations 6 days in. I'm guessing this thread was started for future observations.
*speculation
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Old 01-06-2021, 08:30 AM
 
Location: Pacific Northwest
2,991 posts, read 3,422,447 times
Reputation: 4944
It all depends on interest rates. Our current housing prices aren’t sustainable with rates in the 4-5%.
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Old 01-06-2021, 09:02 AM
 
3,808 posts, read 3,139,335 times
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Quote:
Originally Posted by Guineas View Post
It all depends on interest rates. Our current housing prices aren’t sustainable with rates in the 4-5%.
Agreed, but the Fed has already capitulated on rate hikes after equities dumped in 2018. They've been extremely 'dovish' ever since.

I don't know what it will take to make them raise rates. General measures of inflation are being suppressed by consumer debt and automation at scale (e.g., Amazon), but it's pretty clear these low rates and credit easing are creating 'bubbles' in assets.

When ever they try to pull that lever again, I fully expect the S&P to s___ itself again. Get your hedges ready for those future FOMC meetings, lmao.
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Old 01-06-2021, 10:09 AM
 
2,353 posts, read 1,780,522 times
Reputation: 700
They won't raise rates. They can't anyway even if they wanted to.
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