MA Real Estate is CRAZY (Boston, Newton: condos, crime, home)

[mwj119]

Originally Posted by timberline742

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Plenty local do too. But I wouldn't expect anyone to buy a house on a starting salary, even two people on starting salaries.

Yeah, but the median salary for a Newton cop is $66k. You might not even be renting a house in Framingham on $66k. Starting or not, the MetroWest is not a great place to serve the public- police, schools, or otherwise.

Then again, how tough can it be to be a Wellesley cop? A home invasion once a month. A few high school parties.

[htfdcolt]

Originally Posted by jayrandom

(SF) Bay Area real estate is crazy. Boston real estate is tad eccentric.

^^This. I'm visiting my in-laws who live in the area. The crap that sells for $2M+ would make you weep. Hard to believe the techies are making this much moolah?!

[timberline742]

Originally Posted by mwj119

Yeah, but the median salary for a Newton cop is $66k. You might not even be renting a house in Framingham on $66k. Starting or not, the MetroWest is not a great place to serve the public- police, schools, or otherwise.

Then again, how tough can it be to be a Wellesley cop? A home invasion once a month. A few high school parties.

You could absolutely rent an apartment. And what, a beginner cop is what, 25? 28? They'll be living with roommates like most of us did at that age. Heck, I lived in much lower COL places with decent jobs and a good education and had roommates like everyone else I knew at that age. No biggie.

[massnative71]

Originally Posted by jayrandom

SF gives a good reference point. It’s much crazier there and they have a hotter economy than we do. Housing unaffordability may slow it down a bit but not enough. It can be really ugly if you’re not hooked into a high-earning field or didn’t buy decades ago.

I can't imagine there not being real pain felt when the non-tech workers can no longer afford to live there. You still have to run the schools, staff the grocery stores, scrub the toilets, etc.

[jayrandom]

Originally Posted by massnative71

I can't imagine there not being real pain felt when the non-tech workers can no longer afford to live there. You still have to run the schools, staff the grocery stores, scrub the toilets, etc.

There is real pain, but most of that is offloaded on the people that travel two hours from places like Manteca to run the schools, staff the grocery stores, and scrub the toilets. I’m guessing it beats whatever the alternative is.

It’s a somewhat self-regulating system. People will usually only move somewhere if they think it’s an improvement and they’ll usually move a way if they think they can do better somewhere else. If somewhere gets too expensive it cools the demand. I’m sure if Boston had some magical housing fairy that kept prices reasonable by creating more housing our population would be booming even more than it is.

[mwj119]

Originally Posted by timberline742

You could absolutely rent an apartment. And what, a beginner cop is what, 25? 28? They'll be living with roommates like most of us did at that age. Heck, I lived in much lower COL places with decent jobs and a good education and had roommates like everyone else I knew at that age. No biggie.

Agreed. We have now moved away from the entry level conversation. This is median $66k.

So a wife, a couple of kids, day care, two cars, 45 minute inbound/outbound commute on $66k salary at 40 years old. In the MetroWest. You don't think that's going to be tough? A ranch in frickin Framingham costs $400k now. That's $2800 all in with taxes,PMI, homeowners.

Come on now.

[massnative71]

Originally Posted by jayrandom

There is real pain, but most of that is offloaded on the people that travel two hours from places like Manteca to run the schools, staff the grocery stores, and scrub the toilets. I’m guessing it beats whatever the alternative is.

It’s a somewhat self-regulating system. People will usually only move somewhere if they think it’s an improvement and they’ll usually move a way if they think they can do better somewhere else. If somewhere gets too expensive it cools the demand. I’m sure if Boston had some magical housing fairy that kept prices reasonable by creating more housing our population would be booming even more than it is.

I honestly see the middle class fields suffering more than the service industry which always seems to have a never ending supply of students/illegals/under the table types willing to subject themselves to some very undesirable lifestyles. Trying to attract and retain the likes of teachers, cops, nurses, accountants, admin staff and tradesmen are where you will feel it the hardest. Productivity is going to diminish, and will cause the already obscene COL to balloon even higher.

[massnative71]

Originally Posted by mwj119

Agreed. We have now moved away from the entry level conversation. This is median $66k.

So a wife, a couple of kids, day care, two cars, 45 minute inbound/outbound commute on $66k salary at 40 years old. In the MetroWest. You don't think that's going to be tough? A ranch in frickin Framingham costs $400k now. That's $2800 all in with taxes,PMI, homeowners.

Come on now.

To be fair that sounds like the base salary, that same cop probably has OT available to him raising his salary at least another $10k/yr (school teachers can supplement their salary with summer school). The wife would be working at least part time. But, to think that not too long ago a family in Greater Boston could survive on one one middle-class salary in a decent town, to now where a crappy ranch in "amazing" Framingham is nearly out of reach to a 2 income family...it's insane. No wonder MA is one of those states with a negative in-migration despite it's relatively good economy.

[timberline742]

Originally Posted by mwj119

Agreed. We have now moved away from the entry level conversation. This is median $66k.

So a wife, a couple of kids, day care, two cars, 45 minute inbound/outbound commute on $66k salary at 40 years old. In the MetroWest. You don't think that's going to be tough? A ranch in frickin Framingham costs $400k now. That's $2800 all in with taxes,PMI, homeowners.

Come on now.

66k is the beginning salary the poster said. They're going to have a beginning salary at 40. Presumably that is without details, etc as well. Please.

What is the wife earning? I was one of two kids. My mother was always working back in the 60s-80s. I didn't know many stay at home moms, and I was in a fairly affluent town (its rich now, but wasn't then). What is this expectation to be able to survive on one salary junk?

Who said the are married with two kids? I don't know a heck of a lot of people around Boston, including those I grew up with, that went on to have two kids. Kids are really expensive. Many had one or none.

Heck. I know plenty of 30 and 40 somethings, many well educated and solidly employed, that would love to earn 66k in the Boston area. To do so at mid 20s (since 66k was the base salary) is really doing pretty darn well!

[bjimmy24]

Citing basically the only city with a more unhealthy and distorted housing market (SF) than Boston isn't really a great defense.