2023 Real Estate Observations (Franklin, Marshfield, Duxbury: oil, union, colonial)

[id77]

Originally Posted by msRB311

I also dont get it...so are student loans just no longer going to be a thing? Are there people taking out loans for college now that they will never have to pay back if all this goes through? I am lost lol

Student loans are going to remain very much a thing at least in this country. They cannot be written off in a bankruptcy, so they don't go away ever until they're either forgiven or paid off. Some people do aim to go the forgiveness route by focusing on a job/location that has a forgiveness option after so many years of service.

Took me almost 20 years (and a forbearance or two in my early days) to pay off my student loans, so I'm all for the government finding ways to help so that people in the future don't have to go through what I went through. With college degrees increasingly becoming the new high school diploma in the work force, that's a big burden to expect most people to bear.

[msRB311]

Originally Posted by redplum33

I think you're wrong. This is a relatively small house. You could buy a McMansion in Duxbury in 2019 for ~700k. I'd say 385k is about right for that house in 2019...especially if it needed a lot of work. robr2 said a new roof was put on along with other stuff after the 2019 sale.

Circling back to say that I do think prices skyrocketed in some of the south shore towns because of the pandemic. Lots of people said they moved further away from Boston because of remote work that they never had before. I know i've said this ad nauseum but many folks are still remote.

[brightdoglover]

Originally Posted by redplum33

It's the red door.

Don't people of Asian descent want a red door, preferably facing east? Supposed to be good luck in the Feng shui world.

[msRB311]

Originally Posted by id77

Student loans are going to remain very much a thing at least in this country. They cannot be written off in a bankruptcy, so they don't go away ever until they're either forgiven or paid off. Some people do aim to go the forgiveness route by focusing on a job/location that has a forgiveness option after so many years of service.

Took me almost 20 years (and a forbearance or two in my early days) to pay off my student loans, so I'm all for the government finding ways to help so that people in the future don't have to go through what I went through. With college degrees increasingly becoming the new high school diploma in the work force, that's a big burden to expect most people to bear.

But what exactly did you go through? You had an extra bill to pay? I can see if someone can't get themselves out of a very low paying job and are stuck with high loans...I guess I look at all that people are spending on today that are luxuries. If people can be spending all they're spending then a student loan shouldnt be traumatizing. I think it's just something people dont WANT to pay. Even though it got them a degree and will help them find a job, it's like they dont see value in it if it's such a burden to pay back.

I just find it hard to empathize with people who take a loan for something, then when the time comes to pay it back they're like, omg i actually have to pay this?! Yeah you do. You never hear of anyone complaining about a loan they have to pay on a boat or something...but student loans, oh the horror.

There are many bills people could choose to get rid of...but let's just moan about that college loan payment! because I got the degree, i'm good, no one can take it away from me, so let me just not pay it back. They'll take away your car, your cable, your house, but they can't take the degree back so that one is easy to fight paying.

[massnative71]

Originally Posted by id77

Student loans are going to remain very much a thing at least in this country. They cannot be written off in a bankruptcy, so they don't go away ever until they're either forgiven or paid off. Some people do aim to go the forgiveness route by focusing on a job/location that has a forgiveness option after so many years of service.

Took me almost 20 years (and a forbearance or two in my early days) to pay off my student loans, so I'm all for the government finding ways to help so that people in the future don't have to go through what I went through. With college degrees increasingly becoming the new high school diploma in the work force, that's a big burden to expect most people to bear.

You willingly entered a contract, the taxpayers you want to bail you out did not. Most of them have their own bills to pay. Go cry me a river.

[OtterTrees]

Originally Posted by massnative71

You willingly entered a contract, the taxpayers you want to bail you out did not. Most of them have their own bills to pay. Go cry me a river.

Like we bailed out banks and all the home owners that willingly entered into mortgages they couldn't afford so they they needed HARP. There has been predatory lending with student loans as well. Or all the people who file banruptcy and don't pay back multiple debts? Helping people with student loans or coming with affordable ways for people to get education or training is good for economy.

[msRB311]

I think most people agree that college should be cheaper than it is....but it isn't. It doesn't seem like the whole college thing is going away...i think places have tried to introduce other things like online certificate programs that cost less...but most of the people who do these programs already have that high priced 4 year degree.

There's so much online for people to learn that I question the value of a 4 year degree and I work in higher ed. People have been saying for decades that getting a degree isn't for everyone

[robr2]

Originally Posted by massnative71

Another thing...last I heard the student loan payment suspension has come to an end?



Apparently (and expectantly) a lot of clowns took this as an "opportunity" to take on new mortgages and other debt. If they have to start paying on their student loans again, we could see a new wave of foreclosures and other defaults.

Students loans can only be 1% of DTI so I doubt that was happening except by the affluent.

[redplum33]

Originally Posted by matrix5k

385k in Duxbury in 2019 must have been a private sale or foreclosure? There's no way that was the going rate for a house there.

Originally Posted by redplum33

I'd guess that was the going rate in 2019 for that house.

2017 street view: https://goo.gl/maps/LUXDGL4Y7JVtTpLZ9

Duxbury has gotten really talked up on here in recent years.

Originally Posted by matrix5k

No way. I have a friend who bought a house in Marshfield cause she was priced out of Duxbury back in 2015 or so. She spent around 700k-800k I think.

Originally Posted by redplum33

I think you're wrong. This is a relatively small house. You could buy a McMansion in Duxbury in 2019 for ~700k. I'd say 385k is about right for that house in 2019...especially if it needed a lot of work. robr2 said a new roof was put on along with other stuff after the 2019 sale.

Originally Posted by msRB311

Do you know someone who bought a mansion in Duxbury for 700k in 2019? I think that's a bit of a stretch. Here are some nice homes that sold for quite a bit more than 700k in 2019 in Dux. Amazing what they're worth now:

https://www.zillow.com/homedetails/3...57177471_zpid/

https://www.redfin.com/MA/Duxbury/30.../home/16343578

this one sold for over 1M in 2018:

https://www.redfin.com/MA/Duxbury/19.../home/16342453

to put things in perspective this one sold for just under 700k in 2013:

https://www.redfin.com/MA/Duxbury/22.../home/16343733

These are nice but there are obviously bigger more impressive homes in Dux.

In 2017 I remember looking at homes in Norwell, Dux, even Hingham and it was pretty amazing what you could get in terms of a nice 4 bed, 2 bath house. I recall seeing quite a few for 650-700k...but they weren't mcmansions. I think it's been quite some time since someone was buying a 700k mansion in the greater boston area...maybe in Kingston, pembroke or abington on the south shore but even that's a stretch.

There's also a newly built development off the st that the small 835k house is on. The houses there have recently sold for 1.5-2M so those maybe brought up the value of that newly listed house. I continue to be shocked by what people list homes at...so I try to justify it I guess.

It's not a stretch. You cherrypicked the highest priced ones you could find.

[matrix5k]

Originally Posted by OtterTrees

Like we bailed out banks and all the home owners that willingly entered into mortgages they couldn't afford so they they needed HARP. There has been predatory lending with student loans as well. Or all the people who file banruptcy and don't pay back multiple debts? Helping people with student loans or coming with affordable ways for people to get education or training is good for economy.

This is called "what about ism". Has nothing to do with student loans. "This bail out happened so student loans should get bailed out too". Can they also forgive my mortgage? It's good for the economy!

The majority of student loan borrowers blow the money saved on interest on vacations and other consumer crap.

https://erudera.com/news/survey-73-o...r-debt-relief/