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Old 07-12-2018, 02:44 PM
 
Location: Needham, MA
8,545 posts, read 14,033,805 times
Reputation: 7944

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If you want to see how crazy RE in MetroWest can be, take a look at 77 Taylor Street in Needham. These people owned this house for almost exactly 14 months to the day and after paying $80K over the asking price 14 months ago they just sold the house for full asking price which was $50K more than that. In theory, you could say their house increased in value $50K over 14 months which is a 5%+ increase. Granted, after paying closing fees, commissions, etc. they probably lost a few dollars. However, it was likely just a few thousand and they really did nothing to the house except maybe paint and some new carpet in a few rooms.

Having been in this house. I can tell you there's nothing particularly special about it. It's not insulated with gold bars. It doesn't grant the owner three wishes. It's not located in the most sought after location in town. In fact, one of the bathrooms is still original from when the house was built with neon yellow subway tile. It's a pretty average house and there are many others in town that are similar.

Crazy!
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Old 07-12-2018, 02:47 PM
 
787 posts, read 781,515 times
Reputation: 800
Yup, I am glad I bought when I did. If I was trying to buy a place now I would have been priced out of the town I bought in.
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Old 07-12-2018, 03:01 PM
 
Location: Newburyport, MA
12,460 posts, read 9,550,156 times
Reputation: 15922
It's bad. Not sure how "normal people" like teachers, police officers, retail managers, etc are supposed to be able to buy in this area, if they don't already have a lot of equity from somewhere.
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Old 07-12-2018, 03:22 PM
 
652 posts, read 750,740 times
Reputation: 853
Quote:
Originally Posted by OutdoorLover View Post
It's bad. Not sure how "normal people" like teachers, police officers, retail managers, etc are supposed to be able to buy in this area, if they don't already have a lot of equity from somewhere.
Police officers pull in six figures in MA.
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Old 07-12-2018, 03:31 PM
 
Location: Westwood, MA
5,037 posts, read 6,928,372 times
Reputation: 5961
(SF) Bay Area real estate is crazy. Boston real estate is tad eccentric.
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Old 07-12-2018, 03:32 PM
 
5,016 posts, read 3,924,923 times
Reputation: 4528
Quote:
Originally Posted by rethcir View Post
Police officers pull in six figures in MA.
State officers sure. Not local.

Imagine being a police officer in Newton? $56k starting salary. You'd likely have to rent/commute from Framingham every day just to make ends meet. I know a sizable % of teachers in the Acton school district live in Worecester and commute everyday. It's not a doomsday scenario, but certainly a different story than a good majority of this country.
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Old 07-12-2018, 04:37 PM
 
Location: Erie, PA
3,696 posts, read 2,899,609 times
Reputation: 8748
Quote:
Originally Posted by mwj119 View Post
State officers sure. Not local.

Imagine being a police officer in Newton? $56k starting salary. You'd likely have to rent/commute from Framingham every day just to make ends meet. I know a sizable % of teachers in the Acton school district live in Worecester and commute everyday. It's not a doomsday scenario, but certainly a different story than a good majority of this country.
I would think they would have to commute Based on the crazy high housing costs there I kind of wonder who CAN afford them outside of people working in highly paid professions

I am curious what the hell retail or fast food workers do for housing around there. It's hard enough for them to "make it" here where they can rent in a less-desirable area for $275-$300 a month for a 1-bedroom. That still doesn't leave them a lot of spare money after utilities, groceries, etc. Still, how would someone making the MA minimum wage of $11/hr make it in most areas?
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Old 07-12-2018, 04:39 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,936 posts, read 36,981,862 times
Reputation: 40635
Quote:
Originally Posted by mwj119 View Post
State officers sure. Not local.

Imagine being a police officer in Newton? $56k starting salary. You'd likely have to rent/commute from Framingham every day just to make ends meet. I know a sizable % of teachers in the Acton school district live in Worecester and commute everyday. It's not a doomsday scenario, but certainly a different story than a good majority of this country.
\


Plenty local do too. But I wouldn't expect anyone to buy a house on a starting salary, even two people on starting salaries.
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Old 07-12-2018, 05:37 PM
 
Location: North Andover
550 posts, read 681,273 times
Reputation: 583
Quote:
Originally Posted by mwj119 View Post
State officers sure. Not local.

Imagine being a police officer in Newton? $56k starting salary. You'd likely have to rent/commute from Framingham every day just to make ends meet. I know a sizable % of teachers in the Acton school district live in Worecester and commute everyday. It's not a doomsday scenario, but certainly a different story than a good majority of this country.
Take a look at what a few Methuen PD captains are set to make. Well over 6 figures. Over $400k absolutely disgusting when they are laying off teachers
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Old 07-12-2018, 05:58 PM
 
23,580 posts, read 18,730,403 times
Reputation: 10829
Quote:
Originally Posted by sal1181 View Post
Take a look at what a few Methuen PD captains are set to make. Well over 6 figures. Over $400k absolutely disgusting when they are laying off teachers
Which has absolutely nothing to do with regular cops, firefighters and teachers, etc. trying to survive in the MetroWest region.
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