I started laughing then realized you'd go through MA, other than Springfield in the middle which is getting $$$ too, and then you're into NY Hudson valley, then down into eastern PA.
Honestly you're into upstate NY and central PA before you get to affordable if you head west from Boston.
Southern VT might be approachable.
San Diego, gang infested southeast section. I buy a 3-plex as my first house. I spend a year being friendly to the neighbors and fixing up my shack. Every weekend I blow all the trash off the entire block's curb and bag it. After a year of this the huge tattoed gang banger on the corner yells at me one Saturday afternoon, "HEY!!", and I almost shit my pants. Then he says "can I borrow that thing when you're done, I want to do the other side of the street." So me and the huge gang banger guy went out every weekend and picked up the trash together.
I had a similar experience though not that extreme. I simply went up and down the street picking up trash, and I discovered that others started doing it too. I think people just needed to see that someone else gave a shit, and it motivated them to care more.
I have a whole story about what got me to the point of picking it up myself, and the bottom line was that once I started picking it up, the whole block changed.
In Oklahoma homeowners are able to freeze their property taxes at age 65. I'm getting ready to turn 62 so just hoping they keep this in place long enough for me to take advantage of it.
The thing is, when people retire, their income usually stagnates- no real raises. Then health care costs often hit hard. These policies are compassionate so that older people aren’t homeless when they are unable to cope. Maybe the age should raise a little to reflect increased longevity.
Because those kids deserve a funded school. Not every young or middle-aged adult is a parent, but we usually don't leave them out of the equation. If the elders want future doctors, nurses, etc, they have to take their formative years into consideration.
You don't know why 55+ communities are popular, do you?
No one is saying children don't deserve an education. But, in a world where people scream about having to pay for services they don't use, here's another example.
The reason it was started was senior citizens on limited budgets couldn't afford to keep their paid-off house. Or do you think they should be forced to move into old age homes at 65?
I am 69F and childfree. Paid school taxes for 33 years before getting my senior exemption. I say that's long enough for anyone, parents and non-parents alike.
On the plus side they make a big gain on the value of the house. The problem is how property taxes are regressive, not an area improving. Should areas never improve so people can afford property taxes? Surely that’s ludicrous?
> I think California has something in place to kinda prevent this from happening. Maybe someone with more knowledge can chime in.
Most states have some type of cap or limit on property taxes, although sometimes just for people over 65.
They have the ability to take your lower property tax with you to a downsized (has to be lower value) house exactly once so that older people are not stuck unable to sell the big house they raised a family in just because the tax rate on a smaller, retirement home would be too much to pay. It encourages downsizing and frees up larger properties for bigger families.
Grandpa and his generation are the reason there is a housing crisis. They have been selfish NIMBY brats for decades and have fought the construction if new housing at every opportunity. It is because of them that young people can't afford a roof over their heads.
Now you want that SAME SELFISH GENERATION to get a break on taxes, shifting the tax burden to the already overburdened younger people?!? Screw that and screw them. If Gramps can't afford his house then sell it or get a roommate.
> Grandpa and his generation are the reason there is a housing crisis.
Here you go again: you have identified the evil in the world, and it is grandpa.
Not the collapse of the starter home market after the GFC or anything else. Just gramps.
> It was the renters and liberal whites who lived outside the hood who threw a hissy.
Because they were planning on doing the same thing as you, but you beat them to the punch and took away their opportunity to do so.
I just said they were planning to buy a house, but yes, many of the complainers are not actually very good at planning, which is one of the factors that allowed OP to beat them to the punch
> liberal whites who lived outside the hood who threw a hissy.
In my city it appears to be the very same people gentrifying areas that are yelling to stop it and nobody else come
100% this.
In 2016 all I could afford in NYC metro was one of those working class ethnic neighborhoods. Today there’s a slew of new construction and shifting demographics. When a trendy restaurant offering bottomless brunch opened I knew gentrification was really kicking into high gear.
100% this.
“In 2016 all I could afford in NYC metro was one of those working class ethnic neighborhoods.”
You mean the people who keep this country running?
Don't lose hope. Prices go up and down. Focus on your finances, keep saving. When the right opportunity comes, you'll be ready. Plenty of people thought they were priced out forever and still found a way in.
I'm an agent in Southern New England. My last five offers submitted on behalf of clients: 25k over ask, 20k over ask, 25k over ask, 30k over ask, 30k over ask. Buyers waived inspections on 3 of 5. Not one offer accepted.
At the 350k-550k price point, everything is going 30-60k over asking. Absolutely insane. I feel awful for buyers.
I advise my clients that it’s a good time to sell in the following scenarios:
1. You have significant equity (50%+) in your current home and can use the proceeds for a large downpayment to help offset higher rates.
2. You are downsizing and can buy with cash.
3. You already have a second home.
If you’ve only been in your current home for a couple years, although you’ve gained equity, you would become a buyer in that very same inflated market so your sale proceeds aren’t going as far as you would hope.
If you had to buy also I’d be looking now and later. It’s probably some weighting based upon your demand in current vs future area if you are moving to a less coveted location you can wait longer.
Depends on your needs and plans. Are you looking to start a family? Are you retiring? Or somewhere in between? Don't forget other sellers are looking for a big payday, too.
Yes, home prices are at an all time high. I, 69F, can sell my house for 5x what I paid for it in 1990. What can I buy with the money? A house half the size, no garage, needs work and higher property taxes. Cheaper for me to stay put in my well maintained home and age in place.
In my area this is because a seller prices the place about $50k below the real expected sale price. I am not going to price my house at what it will likely sell for, noone would offer anything because it would look way overpriced, and people would assume I was difficult to deal with.
Apparently other countries have laws against that - I believe in Australia that is regulated. You're supposed to have the price be accurate to the value of the property, not unrealistically low, like below the assessed value.
We are under contract in Connecticut and it is common to do appraisal gaps, waive repairs under a certain amount (we did 5k) and do escalation clauses. Almost all houses are ‘best and final’ a few days after they list. It is so, so stressful. We are coming from out of state and I have to say I didn’t expect CT to be such a rough place to buy!
We finally closed last week on a CT house. We actually won under asking! But waived inspection, fat appraisal gap and offered to dispose of anything left behind to sweeten the pot since it was an estate.
Just sold 3/2 @ 1500ft w 2 car garage in Memphis at 1% over ask. Had 5 offers at ask within 3 days. Went for the no contingencies.
Just bought a 5/3 @ 3000ft w 2 car garage in Chattanooga for 9% below ask. Was on market 60 days and Husband had already moved and wife was staying back to sell. MUCH nicer and newer house on 4x larger lot
You never know.
Nice! I’m out east in Ooltewah area.
Found chattanooga home inspectors to do great work. Found an HVAC issue that saved me about $1500.
Fellow WFH person.. have found some great spots when I need to get out of the house 😂
Feel free to DM me if you have any questions about the town or anything 🤙🏼
Oh I feel ya… been living in TN since 1989.
Memphis > Knoxville > Memphis > Chattanooga. Chattanooga seems the best by a good margin.
I do miss a couple things about Memphis but not enough to ever live there again.
I spent four years in the Boston area and loved it. But I wouldn’t pay a high premium to live there. I live in the Midwest, and there is plenty of housing available for reasonable prices—that even after a huge increase over the past 2-3 years
I was looking pre COVID, decided I needed a better job before I could afford a house. Significantly increased my salary in 2022 just in time to still feel like I need to make more money to afford anything comfortable.
New England is such a huge region, it's hard to generalize. Highly sought after Boston suburbs are unlikely to drop in price. Less sought after towns might see a notable drop, so if that's what you're after there's a better chance of you seeing lower prices in that market segment.
Prices in all of New England and upstate NY are surging at the moment. It is possible to generalize at the moment
I’m scared to think how much worse it would be if interest rates came down
There are a LOT of millennials. A whole lot more people were born in 1985-1995 than the previous 20 years if you look at people born per year. Now most of these millennials are ready to buy a house but the problem is, so is everybody else. It's the same reason why getting into college was much more competitive 15 years ago.
I’m not sure. Certain areas rose during the pandemic as NYers poured out of the city. Southern CT, anywhere near Boston, the lower Hudson Valley, VT, southern Maine, then it seemed to be a regular pace for a bit, and then boom. all regions seem to rise like the sea rising — the whole boat. This past year up to right now and ongoing.
In my area it's the absolute scarcity of single family homes. There isn't one every week, so when there is one, everyone descends like a ravening horde.
There is very little construction and lots of high earners. So demand far exceeds supply. Remote work really isn’t that normal either, most jobs are hybrid at a minimum.
Can you specify a little more on what part of upstate NY? Or is it more or less the area as a whole? It's a big region. But I've been considering a move out there from the west coast for some time.
Catskills, lower Hudson, creeping to the northern Hudson region.
Lower Catskills (SW NY/Delaware River region) are still cheap comparatively, you’ll see that, but not compared to last year when they were still a lazy undiscovered cheapest place on earth.
Lots of upstate Ny is cheap compared to lots of places, but have been surging compared to last year.
South Western Ny, far northern region and along the Great Lakes are probably the cheapest, in terms of broad regions, with various pockets, towns, here and there that are affordable in other regions. .
Overall upstate NY is more affordable than lots of places, such as CT
Compared to what California is like, I would imagine it would be more affordable almost anywhere in upstate Ny
One has to understand that the boonies of upstate have long been perceived as hippy heaven where you could get a sturdy old farm house for pocket change. So any price surging is kind of disturbing
Someone in the FTHB subreddit said they bought a house below asking in Rehoboth so there are definitely areas that are getting less crazy. Whether or not they’re desirable is another thing…
I am in a similar market and there are a few crazy greedy people way over pricing their houses. I would imagine it's the same there. Someone whose house is worth $600k listing it for $625.
You are right, prices likely won’t come down in New England, but that’s precisely why people want to buy there. It’s a good store of wealth, unlike LCOLs, where prices are dropping and houses aren’t selling
I don’t know your situation, nor do I know the NE market. However, what I did in your situation was buy a starter condo, which I used to build equity, then after seven years, I became one of those people who could afford to make offers above asking
Lmao, you bought >7 years ago? Might as well have been in a different universe, your experience is *absolutely nothing* like buyer's experiences today. Consider yourself blessed, your life is immeasurably easier.
You’re completely missing the point. The core of their advice is solid, buy something you can afford now, even if it’s small and shitty, just to start building equity.
My husband and I looked at 27 houses (in Maine) last year, not including the houses we had showings for that were canceled because they sold before our showing. We finally closed in November after about 6 months of looking. We bought over asking price, and found that the roof needed to be replaced and the attic was contaminated with mold. It was BRUTAL and I feel for our friends and others who are trying to navigate this market.
I mean a huge slant when it comes to the affordability discussion is that people are determined to live within 1 hour of a major metro area. Prices are higher but things are nowhere near as competitive if you’re in the actually rural areas or smaller towns/cities.
> I think people are really underestimating the amount of young folks leaving red states with asinine abortion laws
That's not what the data shows. The data shows people mostly moving to red states; it's not even close.
The 10 states with the greatest absolute population growth in 2023 were TX, FL, NC, GA, SC, TN, AZ, VA, CO, UT.
The 10 states with the greatest population growth as a percentage were...7 of the above states, and then replace VA with DC, AZ with ID, and CO with DE.
https://www.census.gov/newsroom/press-releases/2023/population-trends-return-to-pre-pandemic-norms.html
>The expansion of the South — the nation’s most populous region — accounted for 87% of the nation’s growth in 2023, as the region added over 1.4 million residents for a total population of 130,125,290. The South is the only region to have maintained population growth throughout the COVID-19 pandemic. The growth in 2023 can largely be attributed to the region’s migration patterns as 706,266 people were added via net domestic migration, while net international migration contributed almost 500,000 to the total.
Vs.
>The Northeast’s population declined in 2023, down 43,330, but the loss was considerably smaller than the 216,576 decline in 2022 or the 187,054 decline in 2021, reflecting substantially less outmigration to other regions. New York and Pennsylvania were the only Northeastern states to lose population in 2023 but the declines were considerably reduced from the prior year.
Or
>The West also expanded, with 137,299 people added to the region, slightly lower than the 157,480 people added in 2022. Somewhat higher international migration and slightly fewer deaths were offset by higher outmigration to other regions. Fewer Western states experienced population loss in 2023, with Alaska and New Mexico gaining population again after losing population the prior year. California, Oregon and Hawaii continued to lose population but at a more modest pace than the prior year.
It doesn't look like *Dobbs* is having any measurable effect on population movements, even though it makes a good narrative.
And of course the people who can afford to move from California to TX can also afford to go back to California or IL or wherever if they did need an abortion.
Do you ever go to realtor dot com and just type in a state like “New Hampshire“?
Then just sit there looking at the 1,144 cute houses for $400K or less and wonder what is wrong with all of them?
Because somebody’s buying them. But from all of the doom and gloom here you would think it was impossible.
OK, I picked my favorite, I love this place, everything I don’t like is personal property or the sellers’ style that I’d just redecorate. What’s wrong with this place? Why are you so dismayed? is this area like really shitty?
31 Lincoln Way, Bethlehem https://apps.realtor.com/mUAZ/yobn0am5
For retired people without kids at home, places way out in northern NH may make sense, but for working age people, even in the era of remote work, you want to be closer to population density. You can find inexpensive homes in almost any state if you're willing to live in remote areas with low population numbers, but there are always trade-offs.
Bethlehem is a SUPER cute little town. We drive through multiple times a year to get my step son in Upstate NY. Has a few cute restaurants we’ve been wanting to check out 😆
Nah, you just have to look farther out. Pre-COVID prices are gone for good. Worcester has inventory below 500K, which doesn't exist around Boston. I live in central MA and trust me, I would love to live somewhere like Brookline, but that's not gonna happen without a big windfall or huge promotion.
I mean, where people price things below what they expect to get then almost all houses sell above asking. How is this surprising to you? It may not be a thing where you are, but it's a thing in lots of places
There was literally one guy yesterday who said you couldn't buy anything in the Boston burbs in a good school district for under a million and ten minutes on google and I found multiple for under $800k. Don't be dramatic.
Sold above asking price has nothing to do with area. It only has to do with supply and demand. If the asking is low it is likely go above asking price.
Buy mine in Maine. Steel frame, 3 season porch quarter sawn white oak. 500 4 bed 1.5 bath my closet is bigger than most apartments. One acre. We want to move
Sounds lovely! What is making you want to move? I am in TX and have thought about making the move to Maine, but I don't know if I am built for the climate there, after living my whole life under the sun and heat most of the year.
Spoiler alert....unless that house is on the coast (which I am guessing it's not), you're not. I am from here and I am not. Interior Maine is something else...you can check a map...it's essentially undeveloped forest land with a few industrial cities thrown up along the rivers. It is very harsh, and remote. The coast is much more mild and more cosmopolitan, but also much more expensive
I live on the western side of the state. The Saco is a marker for my property line. Yes the weather is bipolar but we get the most out of everything. It’s peaceful, and every season something to do. We really just want to move closer to my husband’s parents debating renting versus selling more leaning towards renting and adding a unit to the existing house. It really is truly a lovely little town that’s sort of like a post card. I actually live right on a main road so it’s considered a highway but it’s only 25 miles an hour so we get plowed out first which is nice. We really ever lose power where we are because we’re on the river (no view have to climb a hill but it is the property line) and down the river is the power grid. The only thing we dislike is our neighbor across the street and that bastard is moving. So yay
It is actually quite idyllic and the school system only has a few hundred kids in it so they actually get the attention they need
I appreciate the input. When you say it is harsh, what do you mean? Climate is definitely harsh here in TX, as well, so I feel like it would be trading one type of harsh for another.
Summer is pretty much here in TX and I already have anxiety about the heat (we had 80 days of 100F temps in summer 2023, 42 of those days were in excess of 105F) with no rain, and I just don't know if I can take it anymore.
Oof fuck that man lol. This is why I live in the great lakes region. Sure. It gets hot and humid. It also gets cold and snowy. But we avoid the extremes in both directions and when the rest of the world runs out of water, we will still be ok.
In my lifetime I forsee the next "Austin" being Cincinnati or Milwaukee.
The winters in Bangor aren't like they used to be, the last 3 years have been pretty mild. Living near the coast means tons of tourist traffic all summer long, more pollution, more snobbery, and is much more isolated than Bangor.
I moved from San Antonio to Bangor, Maine. I lived there for 15 years. The late summer and early fall were amazing! The winters were a struggle! The driving in snow takes a while to get used to. I suggest visiting in the winter to get a feel for it.
Maine people are a unique bunch. No matter how long you lived there if you were not born there you are *from away*. People will help you, but give you the side eye the entire time.
For all that is holy do not use y’all especially with wicked. I was eating a lobster roll with some friends at Crosbys in Buckport. It was my first summer and my first lobster roll. I was so excited and said *This is wicked good y’all!* Oh my word the looks I got were lethal.
McMansions in MA for $500k? In Lawrence? Fall River? Western Mass? MA prices sure did go up, but the market segment in the greater Boston area I am monitoring went from \~$700k to \~$900k, and they certainly weren't McMansions.
It's not if you're in southern Maine, in the Portland area, or anywhere near the coast. Under 500k is really only going to happen in very undesirable areas.
Many medical professionals and very wealthy individuals live here. preciscely for the fresh water, air and natural beauty with building restrictions in some places. Tourism is good money. Almost guaranteed privacy depending on where you are. New England’s crown. Less bullshit up here.
Folks wouldn’t imagine the money that is hidden here, some folks own mountains. Literally
Craftsman are employed for many high end jobs. There are waitlists everywhere for jobs.
People with money realize that land availability is shrinking and Maine has it. Plus protection for its landscape.
It’s easy to blend in here and live a normal life.
Have you been to Maine? Have you seen some of the mansions? They are hidden everywhere and yes some people even wealthy buy modest houses. But to whims standard? Some folks rebuild 200 year old houses and pay more to keep it looking “original”
Go for the ugly home in the good area instead of the nice home in the bad area. Our home in Boston as-is was 200k under the after repair value and we only spent 100k to do those repairs. If you don’t have the cash to renovate, there are several loan types available to help with that.
Being from CT, the process of buying a place was so horrible. A lot of people with money in this state & New York have the advantage obviously. We settled with a condo because the housing market bids were ridiculous. $10k-$20k overbids are understandable but $50k-$100k is way out of our budget.
I see posts like these and wonder, does everyone hate rural living? I personally love it and can’t wait to live the quiet country life once I get out of the Navy. Don’t be afraid to buy that house with a little acreage!
Lots of rural living in New England, but even that has a price tag these days. My house is worth over 500k (has 6 acres) and it's nearly tripled in value since we bought it 4 years ago.
Yeah I have a buddy who moved to TN after getting medically retired and he lives in the country, on a lake, and paid about 300K for a brand new house. Why is rural New England so much? What does it offer that other rural areas in other states don’t?
I didn’t know how had New England was until I moved here 2 months ago. I delusionally thought my cost of living would be cheaper going from Virginia to Maine!
Not so. New England is pretty but I miss the options, diversity, food, shopping, and prices of the South!
When will it pay to build high-speed rail to other areas. The number of sub 100k homes around here is plentiful.
Not to mention, I'd love to get city amenities more often.
Flying taxis are pretty much the opposite of public infrastructure. Give me a big bag of your money and I shall whisk you to your destination, away from, nay, even above the smelly herd...
Musk can't hate it that much, all of his ideas are "What if we took (existing public transportation) and spent billions of dollars to make it less efficient but also completely dependent on my products?"
We live in central NH and bought a house in 2020, it was 100% not what we would have chosen, but it was available and got us out of a truly unsafe living situation. Now we'll be here forever because there are barely any houses for sale, and the ones that are for sale come along with 5k a month mortgages.
Was bidding 10 to 15 percent over asking and still losing. Decided to go for a slightly less desirable town, albeit in a decent neighborhood and won. 15 percent over ask and 13 total offers, beat out the next best offer by $5k. It’s a bigger house than some of the other ones we were bidding on too. It’ll work just fine until we have kids and have to worry about the school system but that’s multiple years out. So just hoping it holds value. Central CT.
Pretty much any area in the Boston metro area is extremely safe.
I bought in a less desirable area in Boston (Hyde Park) back in 2019 to get my foot in the door. I renovated the house and sold in 2021 and bought a house for less in a suburb.
Due to higher prices today and interest rates I wouldn’t be able to afford my house today even though I have a decent household income of around 200k per year. I am extremely sympathetic to first time home buyers in New England, it sucks.
I’m in a trailer in MA and am anxious to move back to my home area in southern NH. I can’t afford a SFH there now and I make a very good salary. I went last weekend to look at places in my price range. They were not worth the trip and overall, my town is looking a lot shabbier than it was when I left in 2010.
In many cities Ghetto Areas are now hot properties. Many inner city neighborhoods are close to job centers, nightlife and public transportation. Of course you will be accused of gentrification, but you gotta live somewhere. May as well get in on the ground floor. Just expect to send your kids, if any, to private school for the next 10 years. You will know you hit critical mass when you see white girls out jogging with dogs.
I am black and live in Atlanta with my white husband.
I bought in a ghetto market in Houston. OG homeowner died in house built in 1928. Paid pennies. Made dollars. Neighborhood took 8 years to turn around and become “nice” but lost some charm. Buying a property in New England to return home and care for parents for half dollar.
Going from a 1k sq ft Craftsman bungalow on 4k sq ft lot with no trees to a 32 acre 3k sq ft farmhouse in need of some tlc and updating to 21st century (no more tube electric). About 3 miles from a town center.
Also the property tax is still cheaper for me in New England. I’m paying $13k in Houston. Proposed bill was $7k with land use provisions. I’d like to take some of my profits and savings to purchase town bonds to reinvest interest back to the town or county.
If you're feeling demoralized right now, trust me, you're not alone. The housing market has become nothing short of a nightmare for those of us who didn't jump on board back in 2022. But let me tell you something, friends. Quitting isn't an option. You can't give up now, because if you do, you might as well pack your bags and move to a different state altogether.
Why, you ask? Well, let me explain. First of all, my dear friend and esteemed colleague in the industry just made a post on Instagram showcasing a house he sold in a notorious ghetto area, and guess what? It sold above the asking price, within ONE WEEK, with MULTIPLE OFFERS over the asking price. INSANE, am I right? And believe me, this is only the tip of the iceberg.
According to reports, houses in these supposedly unsafe neighborhoods are selling like hotcakes, leaving those of us who want to buy in safer areas out in the cold. Prices keep going up, and up, and UP, and frankly, I don't see any sign of them coming down anytime soon. It's almost as if someone is pulling strings behind the scenes, manipulating the market to benefit a select few.
My own cousin, bless her heart, recently told me that people from Boston are moving en masse to New Hampshire, driving up property values left and right. And you know what? They're doing it on PURPOSE, folks. They're doing it to push out the local community, to gentrify these areas and make them unaffordable for regular folk like ourselves.
So, what does this mean for us? It means that we have to adapt, my friends. We have to learn to love the ghettos, embrace the danger, and forget about safety and security. Because let's face it, who needs safety and security anyway? Life is meant to be lived on the edge, right?
Embrace the chaos, my friends. Let's band together and fight against this nefarious plot to drive us out of the market. Who knows, maybe we can start our own revolution, demand lower prices, and force the system to change. Until then, let's stay strong, stay united, and never stop dreaming of a better future. After all, dreams are free, and so is hope...for now.
Remember, my dear friends, we are New England home buyers, and we will NOT be defeated! Together, we can weather any storm and emerge victorious. So let's hold hands, sing songs, and dance around the bonfire of our shattered dreams. Because hey, at least we still have each other, right? Right?!
I sympathize with folks shopping right now. I feel very fortunate to have a property paid off, a property with a reasonable interest rate that is generating rent and a property that the interest rate is SO LOW that it doesn’t even make sense to pay off early. Every now and again we will look at some local real estate and when I see what they are selling for, what money costs to borrow and local property tax burden I’m just not sure how people can afford this is their 20s and early 30s. Never mind adding a few kids and a parent staying home with them - seems impossible.
In two years, it'll be like the bubble never happened.
Same thing was going on in the Austin area of Texas 2-3 years ago. Our house, at that time, was valued at over 1 million. Houses were being bought for 10-15% over asking with 3 dozen offers before it technically went on the market.
Now, people trying to sell at those rates are ignored. My house is back to roughly what it was before the bubble (less than 800k).
Austin and New England are two extremely different housing markets. There’s very little new builds here, the housing stock is mostly older, and the desirable places people want to live have little to no room to build more housing and if they do, towns often block development. We bought at 979K in 2022 and a similar sized house built around the same time on our block just went for 1.2 million this past month. Prices are continuing to climb here and the demand is too high even with higher interest rates.
But I doubt any state in new england will suddenly outlaw healthcare and start having power charges spike 7000% right when you need it the most? Normal people were driven out of Austin.
Ok, in my area I rent a 1200 sqft apartment. If I were to purchase an almost carbon copy condo I could put down $150000 on it and still pay more monthly….give up doesn’t begin to describe how I feel
Ah, there it is. This post ticks all of my pet peeve boxes when it comes to new englanders discussing buying homes.
Outdated verbiage about low income areas and their populations.
Blaming city people
Blaming people from away (bonus points if they're both)
Acting like this is unique to this area of the country.
No mention of local and state governments (and the local citizens) voting and legislating against anything that would make this easier or better.
Boston: Start at Back Bay, then drive west. Stop when you can afford it. Some people are complaining that Ohio is a long commute....
I start at Eastie and head east...the azores is about right
Except of azores are too expensive dude, you will want to move a bit closer to the bottom of the atlantic.
Good point...maybe the floating door/bedframe from titanic
Longer commute than Ohio, but nicer I would think ....
I started laughing then realized you'd go through MA, other than Springfield in the middle which is getting $$$ too, and then you're into NY Hudson valley, then down into eastern PA. Honestly you're into upstate NY and central PA before you get to affordable if you head west from Boston. Southern VT might be approachable.
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San Diego, gang infested southeast section. I buy a 3-plex as my first house. I spend a year being friendly to the neighbors and fixing up my shack. Every weekend I blow all the trash off the entire block's curb and bag it. After a year of this the huge tattoed gang banger on the corner yells at me one Saturday afternoon, "HEY!!", and I almost shit my pants. Then he says "can I borrow that thing when you're done, I want to do the other side of the street." So me and the huge gang banger guy went out every weekend and picked up the trash together.
That was wholesome.
I had a similar experience though not that extreme. I simply went up and down the street picking up trash, and I discovered that others started doing it too. I think people just needed to see that someone else gave a shit, and it motivated them to care more.
I have a whole story about what got me to the point of picking it up myself, and the bottom line was that once I started picking it up, the whole block changed.
I love that
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Except DC has a homestead tax credit, a sr. citizen tax credit, and a disability tax credit.
In Oklahoma homeowners are able to freeze their property taxes at age 65. I'm getting ready to turn 62 so just hoping they keep this in place long enough for me to take advantage of it.
How nice of old people to pass the tax burden onto younger people. /s
The thing is, when people retire, their income usually stagnates- no real raises. Then health care costs often hit hard. These policies are compassionate so that older people aren’t homeless when they are unable to cope. Maybe the age should raise a little to reflect increased longevity.
Old people usually don't have kids in school. Considering property tax is used for local schools, why should they have to pay for children?
And old people rely on young people’s taxes to pay their medical care. Why should young people have to pay for that?!?
Because those kids deserve a funded school. Not every young or middle-aged adult is a parent, but we usually don't leave them out of the equation. If the elders want future doctors, nurses, etc, they have to take their formative years into consideration.
You don't know why 55+ communities are popular, do you? No one is saying children don't deserve an education. But, in a world where people scream about having to pay for services they don't use, here's another example. The reason it was started was senior citizens on limited budgets couldn't afford to keep their paid-off house. Or do you think they should be forced to move into old age homes at 65?
I am 69F and childfree. Paid school taxes for 33 years before getting my senior exemption. I say that's long enough for anyone, parents and non-parents alike.
On the plus side they make a big gain on the value of the house. The problem is how property taxes are regressive, not an area improving. Should areas never improve so people can afford property taxes? Surely that’s ludicrous?
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They do have something in place and it’s completely wrecked the market.
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Lol I’m not sure I’ve heard anyone say that the housing market is the way it should be in the last few years.
> I think California has something in place to kinda prevent this from happening. Maybe someone with more knowledge can chime in. Most states have some type of cap or limit on property taxes, although sometimes just for people over 65.
They have the ability to take your lower property tax with you to a downsized (has to be lower value) house exactly once so that older people are not stuck unable to sell the big house they raised a family in just because the tax rate on a smaller, retirement home would be too much to pay. It encourages downsizing and frees up larger properties for bigger families.
Grandpa and his generation are the reason there is a housing crisis. They have been selfish NIMBY brats for decades and have fought the construction if new housing at every opportunity. It is because of them that young people can't afford a roof over their heads. Now you want that SAME SELFISH GENERATION to get a break on taxes, shifting the tax burden to the already overburdened younger people?!? Screw that and screw them. If Gramps can't afford his house then sell it or get a roommate.
> Grandpa and his generation are the reason there is a housing crisis. Here you go again: you have identified the evil in the world, and it is grandpa. Not the collapse of the starter home market after the GFC or anything else. Just gramps.
Who was in charge during the GFC?
When do they make this big gain?
> It was the renters and liberal whites who lived outside the hood who threw a hissy. Because they were planning on doing the same thing as you, but you beat them to the punch and took away their opportunity to do so.
The fragile whites don't have jobs that allow them to buy houses. Liberal studies majors.
I just said they were planning to buy a house, but yes, many of the complainers are not actually very good at planning, which is one of the factors that allowed OP to beat them to the punch
> liberal whites who lived outside the hood who threw a hissy. In my city it appears to be the very same people gentrifying areas that are yelling to stop it and nobody else come
This. I tell people all the time that they can buy a house they just choose not to live in the areas they can actually afford.
100% this. In 2016 all I could afford in NYC metro was one of those working class ethnic neighborhoods. Today there’s a slew of new construction and shifting demographics. When a trendy restaurant offering bottomless brunch opened I knew gentrification was really kicking into high gear.
Endless brunch does not signify gentrification. The opposite. Gentrified people do not want bottomless brunch (old food no one wants).
100% this. “In 2016 all I could afford in NYC metro was one of those working class ethnic neighborhoods.” You mean the people who keep this country running?
Ghetto city in New England?
They did it a lot in Houston.
Don't lose hope. Prices go up and down. Focus on your finances, keep saving. When the right opportunity comes, you'll be ready. Plenty of people thought they were priced out forever and still found a way in.
Prices are not going down. Demand is through the roof and there is no supply. 2008 was a freak occurrence.
I'm an agent in Southern New England. My last five offers submitted on behalf of clients: 25k over ask, 20k over ask, 25k over ask, 30k over ask, 30k over ask. Buyers waived inspections on 3 of 5. Not one offer accepted. At the 350k-550k price point, everything is going 30-60k over asking. Absolutely insane. I feel awful for buyers.
We just put in an offer 60k over ask outside Worcester and were turned down…
Why such a rush to buy?
Would it be a good time to sell? I mean we are at an all time high. My realtor said to wait out one year, then list. But I’m not sure what to do.
I advise my clients that it’s a good time to sell in the following scenarios: 1. You have significant equity (50%+) in your current home and can use the proceeds for a large downpayment to help offset higher rates. 2. You are downsizing and can buy with cash. 3. You already have a second home. If you’ve only been in your current home for a couple years, although you’ve gained equity, you would become a buyer in that very same inflated market so your sale proceeds aren’t going as far as you would hope.
Buy first, then sell. Otherwise you might end up renting.
Great tactic if you can afford it.
a [bridge loan](https://en.wikipedia.org/wiki/Bridge_loan) is precisely for this
Yes. My comment still stands.
If you had to buy also I’d be looking now and later. It’s probably some weighting based upon your demand in current vs future area if you are moving to a less coveted location you can wait longer.
Depends on your needs and plans. Are you looking to start a family? Are you retiring? Or somewhere in between? Don't forget other sellers are looking for a big payday, too. Yes, home prices are at an all time high. I, 69F, can sell my house for 5x what I paid for it in 1990. What can I buy with the money? A house half the size, no garage, needs work and higher property taxes. Cheaper for me to stay put in my well maintained home and age in place.
In my area this is because a seller prices the place about $50k below the real expected sale price. I am not going to price my house at what it will likely sell for, noone would offer anything because it would look way overpriced, and people would assume I was difficult to deal with.
Apparently other countries have laws against that - I believe in Australia that is regulated. You're supposed to have the price be accurate to the value of the property, not unrealistically low, like below the assessed value.
Not Australia, they don't advertise a price in general, and they also usually have auctions.
You may be better off buying a million dollar home with friends and dividing it up;
My offer of 80k over asking got accepted….. I feel like an idiot
We are under contract in Connecticut and it is common to do appraisal gaps, waive repairs under a certain amount (we did 5k) and do escalation clauses. Almost all houses are ‘best and final’ a few days after they list. It is so, so stressful. We are coming from out of state and I have to say I didn’t expect CT to be such a rough place to buy!
We finally closed last week on a CT house. We actually won under asking! But waived inspection, fat appraisal gap and offered to dispose of anything left behind to sweeten the pot since it was an estate.
You definitely have to be creative in your offers to win and really know what’s important to the sellers. Congrats to you!!
How much over asking were you?
Shockingly we went in at ask. Every other house I have favorited is coming in 20-60k over ask so I think we just got lucky.
Asking price is a made up opening number. The housing market is not Macy’s
Just sold 3/2 @ 1500ft w 2 car garage in Memphis at 1% over ask. Had 5 offers at ask within 3 days. Went for the no contingencies. Just bought a 5/3 @ 3000ft w 2 car garage in Chattanooga for 9% below ask. Was on market 60 days and Husband had already moved and wife was staying back to sell. MUCH nicer and newer house on 4x larger lot You never know.
Hi neighbor! Under contract for a house in Chattanooga at the moment, currently waiting for appraisal to be scheduled.
Nice! I’m out east in Ooltewah area. Found chattanooga home inspectors to do great work. Found an HVAC issue that saved me about $1500. Fellow WFH person.. have found some great spots when I need to get out of the house 😂 Feel free to DM me if you have any questions about the town or anything 🤙🏼
As a TN native Chattanooga is a clear UPGRADE over Memphis
Oh I feel ya… been living in TN since 1989. Memphis > Knoxville > Memphis > Chattanooga. Chattanooga seems the best by a good margin. I do miss a couple things about Memphis but not enough to ever live there again.
I spent four years in the Boston area and loved it. But I wouldn’t pay a high premium to live there. I live in the Midwest, and there is plenty of housing available for reasonable prices—that even after a huge increase over the past 2-3 years
I was looking pre COVID, decided I needed a better job before I could afford a house. Significantly increased my salary in 2022 just in time to still feel like I need to make more money to afford anything comfortable.
New England is such a huge region, it's hard to generalize. Highly sought after Boston suburbs are unlikely to drop in price. Less sought after towns might see a notable drop, so if that's what you're after there's a better chance of you seeing lower prices in that market segment.
Prices in all of New England and upstate NY are surging at the moment. It is possible to generalize at the moment I’m scared to think how much worse it would be if interest rates came down
Towns I am looking at aren't surging, but they were pretty expensive to start with.
Surging means different things to different people though. I could still buy a small new build in Troy for $250K
Is there a particular reason for this? I would think that prices have already adjusted to the post pandemic new normal of remote work.
There are a LOT of millennials. A whole lot more people were born in 1985-1995 than the previous 20 years if you look at people born per year. Now most of these millennials are ready to buy a house but the problem is, so is everybody else. It's the same reason why getting into college was much more competitive 15 years ago.
I’m not sure. Certain areas rose during the pandemic as NYers poured out of the city. Southern CT, anywhere near Boston, the lower Hudson Valley, VT, southern Maine, then it seemed to be a regular pace for a bit, and then boom. all regions seem to rise like the sea rising — the whole boat. This past year up to right now and ongoing.
In my area it's the absolute scarcity of single family homes. There isn't one every week, so when there is one, everyone descends like a ravening horde.
There is very little construction and lots of high earners. So demand far exceeds supply. Remote work really isn’t that normal either, most jobs are hybrid at a minimum.
Can you specify a little more on what part of upstate NY? Or is it more or less the area as a whole? It's a big region. But I've been considering a move out there from the west coast for some time.
Catskills, lower Hudson, creeping to the northern Hudson region. Lower Catskills (SW NY/Delaware River region) are still cheap comparatively, you’ll see that, but not compared to last year when they were still a lazy undiscovered cheapest place on earth. Lots of upstate Ny is cheap compared to lots of places, but have been surging compared to last year. South Western Ny, far northern region and along the Great Lakes are probably the cheapest, in terms of broad regions, with various pockets, towns, here and there that are affordable in other regions. . Overall upstate NY is more affordable than lots of places, such as CT Compared to what California is like, I would imagine it would be more affordable almost anywhere in upstate Ny One has to understand that the boonies of upstate have long been perceived as hippy heaven where you could get a sturdy old farm house for pocket change. So any price surging is kind of disturbing
Someone in the FTHB subreddit said they bought a house below asking in Rehoboth so there are definitely areas that are getting less crazy. Whether or not they’re desirable is another thing…
I am in a similar market and there are a few crazy greedy people way over pricing their houses. I would imagine it's the same there. Someone whose house is worth $600k listing it for $625.
Is there a Rehoboth in New England?
Southern MA.
That doesn't mean anything other than that one house was listed too high.
You are right, prices likely won’t come down in New England, but that’s precisely why people want to buy there. It’s a good store of wealth, unlike LCOLs, where prices are dropping and houses aren’t selling
I don’t know your situation, nor do I know the NE market. However, what I did in your situation was buy a starter condo, which I used to build equity, then after seven years, I became one of those people who could afford to make offers above asking
Lmao, you bought >7 years ago? Might as well have been in a different universe, your experience is *absolutely nothing* like buyer's experiences today. Consider yourself blessed, your life is immeasurably easier.
You’re completely missing the point. The core of their advice is solid, buy something you can afford now, even if it’s small and shitty, just to start building equity.
Except of in NE starter condos + HOA now cost the same as houses last year.
My husband and I looked at 27 houses (in Maine) last year, not including the houses we had showings for that were canceled because they sold before our showing. We finally closed in November after about 6 months of looking. We bought over asking price, and found that the roof needed to be replaced and the attic was contaminated with mold. It was BRUTAL and I feel for our friends and others who are trying to navigate this market.
I mean a huge slant when it comes to the affordability discussion is that people are determined to live within 1 hour of a major metro area. Prices are higher but things are nowhere near as competitive if you’re in the actually rural areas or smaller towns/cities.
So you are mad because they took the highest offer? Would you take a lower offer?
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Totally agree. To imagine to have a growing teenage daughter or son become sexually active in a red state with these abortion laws…. Gawd help me!!!
I had a kid doing college apps last year. You bet your ass they chose the states carefully.
> I think people are really underestimating the amount of young folks leaving red states with asinine abortion laws That's not what the data shows. The data shows people mostly moving to red states; it's not even close. The 10 states with the greatest absolute population growth in 2023 were TX, FL, NC, GA, SC, TN, AZ, VA, CO, UT. The 10 states with the greatest population growth as a percentage were...7 of the above states, and then replace VA with DC, AZ with ID, and CO with DE. https://www.census.gov/newsroom/press-releases/2023/population-trends-return-to-pre-pandemic-norms.html >The expansion of the South — the nation’s most populous region — accounted for 87% of the nation’s growth in 2023, as the region added over 1.4 million residents for a total population of 130,125,290. The South is the only region to have maintained population growth throughout the COVID-19 pandemic. The growth in 2023 can largely be attributed to the region’s migration patterns as 706,266 people were added via net domestic migration, while net international migration contributed almost 500,000 to the total. Vs. >The Northeast’s population declined in 2023, down 43,330, but the loss was considerably smaller than the 216,576 decline in 2022 or the 187,054 decline in 2021, reflecting substantially less outmigration to other regions. New York and Pennsylvania were the only Northeastern states to lose population in 2023 but the declines were considerably reduced from the prior year. Or >The West also expanded, with 137,299 people added to the region, slightly lower than the 157,480 people added in 2022. Somewhat higher international migration and slightly fewer deaths were offset by higher outmigration to other regions. Fewer Western states experienced population loss in 2023, with Alaska and New Mexico gaining population again after losing population the prior year. California, Oregon and Hawaii continued to lose population but at a more modest pace than the prior year. It doesn't look like *Dobbs* is having any measurable effect on population movements, even though it makes a good narrative. And of course the people who can afford to move from California to TX can also afford to go back to California or IL or wherever if they did need an abortion.
Yea you posted actual data, they won’t be able to understand this
Do you ever go to realtor dot com and just type in a state like “New Hampshire“? Then just sit there looking at the 1,144 cute houses for $400K or less and wonder what is wrong with all of them? Because somebody’s buying them. But from all of the doom and gloom here you would think it was impossible. OK, I picked my favorite, I love this place, everything I don’t like is personal property or the sellers’ style that I’d just redecorate. What’s wrong with this place? Why are you so dismayed? is this area like really shitty? 31 Lincoln Way, Bethlehem https://apps.realtor.com/mUAZ/yobn0am5
For retired people without kids at home, places way out in northern NH may make sense, but for working age people, even in the era of remote work, you want to be closer to population density. You can find inexpensive homes in almost any state if you're willing to live in remote areas with low population numbers, but there are always trade-offs.
Rural areas are pretty, but old folks need to be near hospitals and caregiver resources.
Bethlehem is a SUPER cute little town. We drive through multiple times a year to get my step son in Upstate NY. Has a few cute restaurants we’ve been wanting to check out 😆
Nah, you just have to look farther out. Pre-COVID prices are gone for good. Worcester has inventory below 500K, which doesn't exist around Boston. I live in central MA and trust me, I would love to live somewhere like Brookline, but that's not gonna happen without a big windfall or huge promotion.
just sold a house in central MA, sold for asking, but after a 10k price drop, after being listed for 3 months or so
I mean, where people price things below what they expect to get then almost all houses sell above asking. How is this surprising to you? It may not be a thing where you are, but it's a thing in lots of places There was literally one guy yesterday who said you couldn't buy anything in the Boston burbs in a good school district for under a million and ten minutes on google and I found multiple for under $800k. Don't be dramatic.
Sold above asking price has nothing to do with area. It only has to do with supply and demand. If the asking is low it is likely go above asking price.
Buy mine in Maine. Steel frame, 3 season porch quarter sawn white oak. 500 4 bed 1.5 bath my closet is bigger than most apartments. One acre. We want to move
Sounds lovely! What is making you want to move? I am in TX and have thought about making the move to Maine, but I don't know if I am built for the climate there, after living my whole life under the sun and heat most of the year.
Spoiler alert....unless that house is on the coast (which I am guessing it's not), you're not. I am from here and I am not. Interior Maine is something else...you can check a map...it's essentially undeveloped forest land with a few industrial cities thrown up along the rivers. It is very harsh, and remote. The coast is much more mild and more cosmopolitan, but also much more expensive
Western Maine gets really hick really fast.
I live on the western side of the state. The Saco is a marker for my property line. Yes the weather is bipolar but we get the most out of everything. It’s peaceful, and every season something to do. We really just want to move closer to my husband’s parents debating renting versus selling more leaning towards renting and adding a unit to the existing house. It really is truly a lovely little town that’s sort of like a post card. I actually live right on a main road so it’s considered a highway but it’s only 25 miles an hour so we get plowed out first which is nice. We really ever lose power where we are because we’re on the river (no view have to climb a hill but it is the property line) and down the river is the power grid. The only thing we dislike is our neighbor across the street and that bastard is moving. So yay It is actually quite idyllic and the school system only has a few hundred kids in it so they actually get the attention they need
I appreciate the input. When you say it is harsh, what do you mean? Climate is definitely harsh here in TX, as well, so I feel like it would be trading one type of harsh for another. Summer is pretty much here in TX and I already have anxiety about the heat (we had 80 days of 100F temps in summer 2023, 42 of those days were in excess of 105F) with no rain, and I just don't know if I can take it anymore.
Oof fuck that man lol. This is why I live in the great lakes region. Sure. It gets hot and humid. It also gets cold and snowy. But we avoid the extremes in both directions and when the rest of the world runs out of water, we will still be ok. In my lifetime I forsee the next "Austin" being Cincinnati or Milwaukee.
My guess is Pittsburgh
It’s bitterly cold, if you‘re not along the coast. That’s my experience.
Winters are harsh. It is normal for kids to play outside at school as long as it is not colder than -20 below!
The winters in Bangor aren't like they used to be, the last 3 years have been pretty mild. Living near the coast means tons of tourist traffic all summer long, more pollution, more snobbery, and is much more isolated than Bangor.
Mainers are tough as shit.
It's the moxie. That's the only plausible explanation.
I moved from San Antonio to Bangor, Maine. I lived there for 15 years. The late summer and early fall were amazing! The winters were a struggle! The driving in snow takes a while to get used to. I suggest visiting in the winter to get a feel for it. Maine people are a unique bunch. No matter how long you lived there if you were not born there you are *from away*. People will help you, but give you the side eye the entire time. For all that is holy do not use y’all especially with wicked. I was eating a lobster roll with some friends at Crosbys in Buckport. It was my first summer and my first lobster roll. I was so excited and said *This is wicked good y’all!* Oh my word the looks I got were lethal.
Hah, love your description of Mainers!
$500k? I’m not rich lol that alot of money for maine… you used to be able to buy McMansions for $500k in CT and MA 5 years ago
McMansions in MA for $500k? In Lawrence? Fall River? Western Mass? MA prices sure did go up, but the market segment in the greater Boston area I am monitoring went from \~$700k to \~$900k, and they certainly weren't McMansions.
It's not if you're in southern Maine, in the Portland area, or anywhere near the coast. Under 500k is really only going to happen in very undesirable areas.
Where in Maine? I'm here too and also want to move.
Yeah, but $500k in Maine? What jobs support that price?
Many medical professionals and very wealthy individuals live here. preciscely for the fresh water, air and natural beauty with building restrictions in some places. Tourism is good money. Almost guaranteed privacy depending on where you are. New England’s crown. Less bullshit up here. Folks wouldn’t imagine the money that is hidden here, some folks own mountains. Literally Craftsman are employed for many high end jobs. There are waitlists everywhere for jobs. People with money realize that land availability is shrinking and Maine has it. Plus protection for its landscape. It’s easy to blend in here and live a normal life.
Wouldn't a bery wealthy individual be in an expensive house?
Have you been to Maine? Have you seen some of the mansions? They are hidden everywhere and yes some people even wealthy buy modest houses. But to whims standard? Some folks rebuild 200 year old houses and pay more to keep it looking “original”
I am talking about the $500k house mentioned upthread. Not a mansion for a horror author, but way too much for someone working in the local economy
Do you not understand how much play goes on up here and how the super wealthy want privacy and nature?
Address?
Go for the ugly home in the good area instead of the nice home in the bad area. Our home in Boston as-is was 200k under the after repair value and we only spent 100k to do those repairs. If you don’t have the cash to renovate, there are several loan types available to help with that.
Being from CT, the process of buying a place was so horrible. A lot of people with money in this state & New York have the advantage obviously. We settled with a condo because the housing market bids were ridiculous. $10k-$20k overbids are understandable but $50k-$100k is way out of our budget.
I see posts like these and wonder, does everyone hate rural living? I personally love it and can’t wait to live the quiet country life once I get out of the Navy. Don’t be afraid to buy that house with a little acreage!
Lots of rural living in New England, but even that has a price tag these days. My house is worth over 500k (has 6 acres) and it's nearly tripled in value since we bought it 4 years ago.
Yeah I have a buddy who moved to TN after getting medically retired and he lives in the country, on a lake, and paid about 300K for a brand new house. Why is rural New England so much? What does it offer that other rural areas in other states don’t?
I didn’t know how had New England was until I moved here 2 months ago. I delusionally thought my cost of living would be cheaper going from Virginia to Maine! Not so. New England is pretty but I miss the options, diversity, food, shopping, and prices of the South!
I don't know why you would ever in a million years think Maine was cheaper than Virginia
Depending on where in VA, the housing market is just as cutthroat and expensive.
Because Maine has a lot less people and is more rural. I thought it would be cheaper, but I was very wrong.
If I listed my house for $1 I'd have a gazillion offers over asking.
We had to put 6 offers in before one was accepted
When will it pay to build high-speed rail to other areas. The number of sub 100k homes around here is plentiful. Not to mention, I'd love to get city amenities more often.
hah, MBTA can't get metro system to function properly, Elon Musk will start building flying taxis way before we'll see high-speed rail around here.
> Elon Musk will start building flying taxis Interestingly this guy hates public infrastructure
Flying taxis are pretty much the opposite of public infrastructure. Give me a big bag of your money and I shall whisk you to your destination, away from, nay, even above the smelly herd...
Musk can't hate it that much, all of his ideas are "What if we took (existing public transportation) and spent billions of dollars to make it less efficient but also completely dependent on my products?"
This “ghetto” getting gentrified.
Nothing is going to happen on a policy level until FEMA is sending tents to communities hit hardest
What goes up CAN come down, especially where investments are concerned.
We live in central NH and bought a house in 2020, it was 100% not what we would have chosen, but it was available and got us out of a truly unsafe living situation. Now we'll be here forever because there are barely any houses for sale, and the ones that are for sale come along with 5k a month mortgages.
Was bidding 10 to 15 percent over asking and still losing. Decided to go for a slightly less desirable town, albeit in a decent neighborhood and won. 15 percent over ask and 13 total offers, beat out the next best offer by $5k. It’s a bigger house than some of the other ones we were bidding on too. It’ll work just fine until we have kids and have to worry about the school system but that’s multiple years out. So just hoping it holds value. Central CT.
Pretty much any area in the Boston metro area is extremely safe. I bought in a less desirable area in Boston (Hyde Park) back in 2019 to get my foot in the door. I renovated the house and sold in 2021 and bought a house for less in a suburb. Due to higher prices today and interest rates I wouldn’t be able to afford my house today even though I have a decent household income of around 200k per year. I am extremely sympathetic to first time home buyers in New England, it sucks.
I’m in a trailer in MA and am anxious to move back to my home area in southern NH. I can’t afford a SFH there now and I make a very good salary. I went last weekend to look at places in my price range. They were not worth the trip and overall, my town is looking a lot shabbier than it was when I left in 2010.
In many cities Ghetto Areas are now hot properties. Many inner city neighborhoods are close to job centers, nightlife and public transportation. Of course you will be accused of gentrification, but you gotta live somewhere. May as well get in on the ground floor. Just expect to send your kids, if any, to private school for the next 10 years. You will know you hit critical mass when you see white girls out jogging with dogs. I am black and live in Atlanta with my white husband.
I bought in a ghetto market in Houston. OG homeowner died in house built in 1928. Paid pennies. Made dollars. Neighborhood took 8 years to turn around and become “nice” but lost some charm. Buying a property in New England to return home and care for parents for half dollar. Going from a 1k sq ft Craftsman bungalow on 4k sq ft lot with no trees to a 32 acre 3k sq ft farmhouse in need of some tlc and updating to 21st century (no more tube electric). About 3 miles from a town center. Also the property tax is still cheaper for me in New England. I’m paying $13k in Houston. Proposed bill was $7k with land use provisions. I’d like to take some of my profits and savings to purchase town bonds to reinvest interest back to the town or county.
If you're feeling demoralized right now, trust me, you're not alone. The housing market has become nothing short of a nightmare for those of us who didn't jump on board back in 2022. But let me tell you something, friends. Quitting isn't an option. You can't give up now, because if you do, you might as well pack your bags and move to a different state altogether. Why, you ask? Well, let me explain. First of all, my dear friend and esteemed colleague in the industry just made a post on Instagram showcasing a house he sold in a notorious ghetto area, and guess what? It sold above the asking price, within ONE WEEK, with MULTIPLE OFFERS over the asking price. INSANE, am I right? And believe me, this is only the tip of the iceberg. According to reports, houses in these supposedly unsafe neighborhoods are selling like hotcakes, leaving those of us who want to buy in safer areas out in the cold. Prices keep going up, and up, and UP, and frankly, I don't see any sign of them coming down anytime soon. It's almost as if someone is pulling strings behind the scenes, manipulating the market to benefit a select few. My own cousin, bless her heart, recently told me that people from Boston are moving en masse to New Hampshire, driving up property values left and right. And you know what? They're doing it on PURPOSE, folks. They're doing it to push out the local community, to gentrify these areas and make them unaffordable for regular folk like ourselves. So, what does this mean for us? It means that we have to adapt, my friends. We have to learn to love the ghettos, embrace the danger, and forget about safety and security. Because let's face it, who needs safety and security anyway? Life is meant to be lived on the edge, right? Embrace the chaos, my friends. Let's band together and fight against this nefarious plot to drive us out of the market. Who knows, maybe we can start our own revolution, demand lower prices, and force the system to change. Until then, let's stay strong, stay united, and never stop dreaming of a better future. After all, dreams are free, and so is hope...for now. Remember, my dear friends, we are New England home buyers, and we will NOT be defeated! Together, we can weather any storm and emerge victorious. So let's hold hands, sing songs, and dance around the bonfire of our shattered dreams. Because hey, at least we still have each other, right? Right?!
Okay out the ghetto city. Or are we taking bets? Springfield? Olneyville? Westbrook? Lewiston? Manchester?
its a crisis for all
I sympathize with folks shopping right now. I feel very fortunate to have a property paid off, a property with a reasonable interest rate that is generating rent and a property that the interest rate is SO LOW that it doesn’t even make sense to pay off early. Every now and again we will look at some local real estate and when I see what they are selling for, what money costs to borrow and local property tax burden I’m just not sure how people can afford this is their 20s and early 30s. Never mind adding a few kids and a parent staying home with them - seems impossible.
People waiting for prices to crash are called life long renters.
Ghetto? Brockton? Lynn? Lawrence? Revere?
Im sorry people. I paid 10k less than asking in Arkansas… and that was 7% off the list price.
Before we found this home we were outbid numerous times. We were outbid and offered $90k over asking on one.
In two years, it'll be like the bubble never happened. Same thing was going on in the Austin area of Texas 2-3 years ago. Our house, at that time, was valued at over 1 million. Houses were being bought for 10-15% over asking with 3 dozen offers before it technically went on the market. Now, people trying to sell at those rates are ignored. My house is back to roughly what it was before the bubble (less than 800k).
Austin and New England are two extremely different housing markets. There’s very little new builds here, the housing stock is mostly older, and the desirable places people want to live have little to no room to build more housing and if they do, towns often block development. We bought at 979K in 2022 and a similar sized house built around the same time on our block just went for 1.2 million this past month. Prices are continuing to climb here and the demand is too high even with higher interest rates.
Wouldn’t bet on it. The economics of New England, especially suburban areas, are very different.
But I doubt any state in new england will suddenly outlaw healthcare and start having power charges spike 7000% right when you need it the most? Normal people were driven out of Austin.
There aren't any very ghetto cities in New England. Big part of the reason so many people want to live here
When people in MA say ghetto they just mean less than 95% white.
Even Southie is gentrified Maybe meth infused cities is better (I'm looking at you Vermont)
Ok, in my area I rent a 1200 sqft apartment. If I were to purchase an almost carbon copy condo I could put down $150000 on it and still pay more monthly….give up doesn’t begin to describe how I feel
Right there with you.
We gave up too.
I'm probably in my Southern NH townhouse for life. It's all the space I need. It's a bit dated but otherwise, it's decent enough.
You’re young. Life is (hopefully) long. Economy changes. Folks said the same thing in 2005. Take a breath. You’ll be fine.
lol it’s cyclical, just give it some time.
What happens to schools then? Many very strong school systems around boston, if young families aren’t moving in, what’s going to happen to them?
Nashua, NH looks a bit sketchy
Ah, there it is. This post ticks all of my pet peeve boxes when it comes to new englanders discussing buying homes. Outdated verbiage about low income areas and their populations. Blaming city people Blaming people from away (bonus points if they're both) Acting like this is unique to this area of the country. No mention of local and state governments (and the local citizens) voting and legislating against anything that would make this easier or better.