2023 Real Estate Observations (Boston: hospitals, culture, panel)

[matrix5k]

You guys are hating on people for giving their parents a better quality of life, because they want to? How miserable can you get! It's not your money! It's not a burden to us!

[massnative71]

Originally Posted by gf2020

You can qualify for a $4000 per month mortgage with a $150,000 per year income.

What makes you think people who work for a non-profit don't make a good income? Not for profit companies are competing for the same employees as for profit companies.

A mid-level employee at the Girl Scouts of Eastern Massachusetts will make over $100,000 per year. Same for the Appalachian Mountain Club or any other large not for profit.

I said "over" $4000/month. Might have been $4200, might have been $4400, I forget. One needs to earn at least $200K to realistically afford that, despite what some banks may lend them. And I doubt very much this couple makes that.

[massnative71]

Originally Posted by matrix5k

You guys are hating on people for giving their parents a better quality of life, because they want to? How miserable can you get! It's not your money! It's not a burden to us!

You OK bro? Nobody is hating on anybody.

[msRB311]

Originally Posted by matrix5k

You guys are hating on people for giving their parents a better quality of life, because they want to? How miserable can you get! It's not your money! It's not a burden to us!

No one is hating on anyone. I am just saying, wow with what it costs to live around here and raise kids (who you may be financially responsible for well into their 20's these days), I sure hope my parents don't need much financial help. Thankfully they have planned well...i pointed out my MIL did not and thought her sons would come to her rescue. They allow her to stay with them (her boyfriend too) for vacations but no one is going to have her move in with them or give her money for rent to move back here.

I think you are probably a better person than I am because i would be p*ssed if I had to take care of my parents or MIL financially. I do feel irritated with many of the life choices my MIL made and how it will affect her kids/grandkids. She seemed to not think about the future at all when it came to finances and had the nerve to expect her kids to help her pay rent. I couldn't imagine expecting my kids to pay for me to have a place to live.

[charolastra00]

Originally Posted by gf2020

You can qualify for a $4000 per month mortgage with a $150,000 per year income.

What makes you think people who work for a non-profit don't make a good income? Not for profit companies are competing for the same employees as for profit companies.

A mid-level employee at the Girl Scouts of Eastern Massachusetts will make over $100,000 per year. Same for the Appalachian Mountain Club or any other large not for profit.

A 150K household income is double the median HHI in Massachusetts. Based on https://statisticalatlas.com/state/M...usehold-Income, 150K is somewhere over the 80th percentile for all household incomes in the state. That obviously doesn't figure in other forms of wealth, like stock, crypto, existing housing equity, etc.

But what's so nuts is that a family making in the median household income in this state (71K) would likely be really struggling with rent anywhere east of Worcester. There's a reason why my old apartment complex in Marlborough had families of 4 sharing a 1 bedroom despite both adults working.

While technically you could be approved for 4K a month on 150K a year, that would likely be tight unless you have no liabilities (student loans, car payments, childcare costs) and there's such limited availability in that range within an hour of Boston. Sure, homes exist, but not nearly enough to meet demand and that's why modest 2 bedroom condos are selling for 50-100K over list... it's the only way for lots of folks to get their foot in the door or else face constantly increasing rent while they wait it out for who knows how long.

[msRB311]

I noticed this one in Duxbury today:

https://www.zillow.com/homedetails/7...65704567_zpid/

I get that it's Duxbury but this is what people who are looking to downsize are faced with...and often times it's why they don't bother to downsize.

[matrix5k]

Originally Posted by massnative71

You OK bro? Nobody is hating on anybody.

You sure about that? Someone said helping out my parents was akin to giving cash to a drug addict, and another said they are a burden!

[msRB311]

Originally Posted by matrix5k

You sure about that? Someone said helping out my parents was akin to giving cash to a drug addict, and another said they are a burden!

that really struck a nerve with you for some reason. I don't know you or your parents, if you're ok with what you're doing why do you care what strangers on the internet think? For many people having to give their parents money would be a burden to them. You really care a lot about what people here think. So yeah I also have to ask are you ok? What other people think here should not get you so riled up. It's fine to debate but not everyone is going to have the same opinion as you.

[redplum33]

Originally Posted by msRB311

It's fine to debate but not everyone is going to have the same opinion as you.

There's more going on here than just some people not having the same opinion.

[msRB311]

Originally Posted by redplum33

There's more going on here than just some people not having the same opinion.

I would agree. I seem to be getting under people's skin when I say the real estate prices are ridiculous. Who cares that much if that's what I think? Apparently UNCdude and Matrix do...and sometimes a few others.