…And weeeee’ll keep on buying — till the end … Boston is the #1 bubblicious-est housing market in
the country, says Kiplingers Personal Finance (at Yahoo). And our soft job market is part of the reason for concern:
The problem, says Lawrence Yun, regional economist for the NationalAssociation of Realtors (NAR), is that the Boston area has lost 200,000jobs since 2000 and that housing prices remain high, with a median homeselling for $398,000.
It’s a chicken-and-omelette situation: high housing prices make the area unattractive for workers and jobs, which makes it impossible to keep up the bubble.
But there’s a silver lining, folks… Here’s your Brit Hume Schadenfreude moment of the day:
But David Lindahl, a veteran real estate buyer who runs a localinvestors’ club, looks at the bright side of a possible price declinein Boston. That would mean, he says, "buying opportunities in theforeclosure market."
Ugh. Good news for people who love bad news, as they say.
