Massachusetts Market Keeps Rising

[Chris Munichiello]

I’ve been looking for my first deal for too long and now I feel like I’ll never have enough saved the way prices are going especially on multi family houses in Massachusetts. I’m in the south shore so I’m looking at deals in Weymouth Braintree Quincy Rockland Abington and in the city of Boston. I’m aware these areas are pricey but still when will these prices come crashing even in the less desirable places of the city like Mattapan and even closer to Franklin Park Zoo houses are too expensive.

[Charlie MacPherson]

@Chris Munichiello The fundamentals that caused the last crash simply aren't in play now.  In the run-up to the 2006 peak and the 2009 valley, there were phenomenal (criminal!) abuses in lending.  Lenders were pressured by politicians to make loans to people who couldn't possible repay them.  That and a lot of other shenanigans lead to that crash.

The eastern Mass market as a whole is still growing.  There's still a radical shortage of properties, sky high rents and that's driving very high demand.

Education, medicine, biotech, hi tech, defense, finance - there are so many growing industries here that I don't see demand relenting any time in the foreseeable future.