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Old 02-03-2021, 02:41 PM
r_p
 
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Some recent news ...

https://www.bostonherald.com/2021/02...pshire-report/
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Old 02-03-2021, 03:15 PM
 
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Originally Posted by r_p View Post
Lots of tax fear-mongering from the Pioneer Institute ... shocked. Massachusetts AGI has remained intact thanks to income growth within. It’s not all doom and gloom.
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Old 02-03-2021, 03:41 PM
 
2,348 posts, read 1,778,099 times
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Originally Posted by Shrewsburried View Post
Lots of tax fear-mongering from the Pioneer Institute ... shocked. Massachusetts AGI has remained intact thanks to income growth within. It’s not all doom and gloom.
MA has been near the top of Domestic Net Migration for some time. It's more due to housing prices than taxes though.
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Old 02-03-2021, 03:49 PM
 
Location: Baltimore
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Housing prices are high enough in MA now to cause similar migrations away from the state that we typically see associated with high property tax in other northeastern states. The low tax played a role in increasing the sticker price in the first place.

Even while people move out..

How is it that the average Boston-area house 'made' more than a minimum wage worker last year

For a long time, the upper middle-class sensibilities in the states sort of just buried their heads in the sand about why this was an unsustainable system. That time has come to a close.
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Old 02-03-2021, 04:31 PM
 
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I feel like I can't speculate on what will happen. There have always been people leaving Boston and more move in. The housing costs have become ridiculous and that doesn't seem to be stopping so the supply and demand is there. I do think many people have stayed in Boston because of jobs though and that certainly could change if companies stay remote or allow people to live where they want.

On another note, why is Elon musk dating Grimes? I mean they're not just dating they have a kid together. I do not get it.

Last edited by msRB311; 02-03-2021 at 04:56 PM..
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Old 02-03-2021, 05:44 PM
 
Location: Baltimore
21,628 posts, read 12,733,519 times
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Originally Posted by BostonBornMassMade View Post
Housing prices are high enough in MA now to cause similar migrations away from the state that we typically see associated with high property tax in other northeastern states. The low tax played a role in increasing the sticker price in the first place.

Even while people move out..

How is it that the average Boston-area house 'made' more than a minimum wage worker last year

For a long time, the upper middle-class sensibilities in the states sort of just buried their heads in the sand about why this was an unsustainable system. That time has come to a close.
Home prices on an SFH rose 9.7% last year but they rose 13% nationally. So the Boston market is relatively cool in comparison.
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Old 02-03-2021, 06:00 PM
 
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Originally Posted by BostonBornMassMade View Post
Home prices on an SFH rose 9.7% last year but they rose 13% nationally. So the Boston market is relatively cool in comparison.
Is demand actually lower or are we seeing valuations hit a ceiling of purchasing power? I suspect the latter ... there's no shortage of qualified buyers at the moment.
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Old 02-03-2021, 06:06 PM
 
Location: Baltimore
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Originally Posted by Shrewsburried View Post
Is demand actually lower or are we seeing valuations hit a ceiling of purchasing power? I suspect the latter ... there's no shortage of qualified buyers at the moment.
Nothing IMO.. just other places are less urban and more comfortable. So our market is just not as hot. Obviously its still expensive.
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Old 02-03-2021, 06:33 PM
 
3,808 posts, read 3,137,060 times
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Originally Posted by BostonBornMassMade View Post
Nothing IMO.. just other places are less urban and more comfortable. So our market is just not as hot. Obviously its still expensive.
I think your correlating valuation gains with demand, and I think that is false.

According Realtor's 'Recovery Index', which tracks demand, pace of sales, price, and supply Boston was well above the national average in 2020 ... upper tier along with LA, Denver, and Portland metros. Their data may be bunk, but IMO, it seems to do a better job of evaluating demand than judging total sales and valuations alone.
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Old 02-04-2021, 03:16 AM
 
24,556 posts, read 18,239,810 times
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Originally Posted by yesmaybe View Post
MA has been near the top of Domestic Net Migration for some time. It's more due to housing prices than taxes though.
Sure, but look at the income demographics. It’s net inward migration at high income. The outward migration is centered on a household income of $75k.
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