I thought that the liberals told us that if they reformed healthcare in Massachusetts, businesses would flock to their state in order to take advantage of their wonderful healthcare system.
When nobody lives in MA any more, houses will be free.........
I was up in NH during the last housing bust and I knew a lot of people who saw dramatic drops in their home values, some over 50%. We were lucky enough to buy while the prices were still rising but not going crazy, so while the value of our home rose $25,000 between the time we committed and the time we closed, when we sold it 14 years later it was for that same $25,000 difference.
How soon will the idiots in charge of Mass. start agitating to raise the property/income taxes “for the children”?
(or will they even bother to drop the valuations of the homes property tax-wise?)
Actually these falling prices are a positive sign, unless of course you are selling. The biggest reason for the length of this downturn is the sellers unwillingness to face reality and lower the sale price of their home to meet market conditions. When this finally happens, and rest assured it wt will happen, the number of homes on the market will drop due to buyers finally pulling the trigger. When this happens the price of remaining homes will first stabilize and then begin to creep upward (supply demand equation) as we begin yet another cycle in this particular segment.
It appears to me is that the market is in an adjustment period, moving from obviously inflated values, moving back to actual or realistic values. Certainly those who bought at the inflated prices are going to be hurt.
Do you want to blame someone?? not the government this time - try the aggressive real estate companies and their lap dogs - appraisers and assessors.
Last I knew MA was fixin’ to lose a couple of House seats after the next census. People and jobs are bugging outta MA the same way they are Upstate NY. Gee, that couldn’t have any effect on home prices, could it?