Results 1 to 3 of 3

Thread: Is Boston coming back?

  1. #1
    Join Date
    Mar 2008
    Location
    Wayland MA 463 Old Conn Path
    Posts
    382

    Default Is Boston coming back?

    Look at this link...

    http://finance.yahoo.com/real-estate...realestate-buy

    This is a list of 20 cities with percentage changes of foreclosures.
    Boston gets the highest score on this list with a cooling of foreclosures of almost 41%.... the worst: Seattle with a 72% increase.

    In high tech the word I hear is that we are now at or near a bottom with an uptick. Perhaps we are now half way through the tunnel.

    Hope so.

    Any other proofs you are aware of?

  2. #2
    Join Date
    Nov 2005
    Posts
    726

    Default

    I was expecting your post to about the band, not the city! Of course, the former just couldn't be the same without Brad Delp's voice.

    As to the latter, this certainly would be welcome news!

  3. #3
    Join Date
    Nov 2005
    Location
    Wayland MA
    Posts
    1,431

    Default

    I'm normally an optimist, and regarding the economy, really want to be one, but ...

    Here's my concern, with the caveat that I'm not remotely a financial expert. The problem, as I see it, is debt. Taking on debt when real estate values are steadily climbing seems to be manageable--you've got the perception that you can simply cash in your equity and pay off your debt.

    With the burst in the real estate bubble, the ability to pay off debt has gone away. As a result, people are cutting back on their purchases. That means the company revenues drop, forcing companies to lay people off, dramatically reducing the already stretched ability to pay off debt.

    As I understand it, the first round of mortgage defaults happened because people couldn't afford to pay off bad loans. Now, with people out of work, they can't afford to pay off good loans. I'm worried that the market gains of 2009 will evaporate as the joblessness factor really kicks in.

    The key would seem to be job creation. Maybe some experts could weigh in on employment prospects over the near to medium term?

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •