Posted on 07/28/2022 8:29:32 AM PDT by bitt
BOSTON - A new study from the Beacon Hill Institute says the rate of inflation in Massachusetts is outpacing the country in several key categories including gas, used vehicles and electricity.
Chris Wallerce, owner of Winthrop Marketplace, says he's seeing the signs of inflation in his store with increasing on everything. "It's the hardest it's ever been to be in business with every cost going up," said Wallerce.
He can't even offer the sales he used to with vendors passing on costs for things like fuel and packaging. "I used to get deals from vendors and could offer 10 items for $10. Now it's four five dollars or two for three dollars."
Even his electric bills have tripled just trying to keep all his freezers running 24 hours.
Customers are feeling the pinch like Kristin Boivin shopping with her children. "We're not buying anything extra only what we need," Boivin said. "We're cutting corners everywhere really."
According to the study, the news is discouraging when it comes to prices in Massachusetts. Gas prices are up 54% compared to 48% nationally, used vehicles are up 37% versus 35% nationally, natural gas up 27% compared to 21.6% nationally.
Transportation services are the only lower costs in the top five compared nationally with 20% versus 27%. Electric costs in Massachusetts are up 14.5% compared to 11% nationally.
"Those top five goods make up a majority of what people spend money on," said Paul Caney with the Fiscal Alliance Foundation.
(Excerpt) Read more at cbsnews.com ...
They went greenie....Shut down a nuke plant I think and have a lot of wind mills....except at the Kennedy compound..
Yes indeed. Unfortunately, they can’t easily be...... removed.
Sound like the residents are going to be making some local hedonic adjustments. Glad I moved out.
This year the Red Sox are bringing true excitement to baseball.
Nobody can figure out whether they will be buyers or sellers by the trade deadline.
They are bad enough to throw in the towel by selling top players with contracts expiring soon, but they are just good enough to tempt ownership to throw down big bucks in a last ditch effort to make the playoffs.
Now that is drama!
;-)
Me too. Tennessee is a much nicer place. Sane, polite people, low taxes and just dang beautiful.
Most apartments were not renting for $2000 a month 20 years ago.
The average rent for an apartment in Boston is $3,772. The cost of rent varies depending on several factors, including location, size, and quality. https://www.rentcafe.com/average-rent-market-trends/us/ma/boston/
When my wife left Newton 20 years ago her rent was $2000/month for a one bedroom.
The Red Sox almost broke the record with last Fridays game against the Blue Jays. The record for the most runs ever scored by an opposing team in a game. However, the Jays ONLY scored 28 runs.
The talk is the JD Martinez is gonzo. Rightly so.
Everyone wants them to resign Devers and Bogarts. Time will tell.
My favorite play in that game was a fly ball to center field.
The Red Sox rookie center fielder stared into the sky (apparently looking for UFOs) while the ball sailed over his head.
He then stood there and sulked rather than chasing after the ball which became an inside the park grand slam by Toronto.
My son is trying to find a condo in that area. Every time he puts in an offer on one, he is outbid. This is because apartment dwellers are flocking to the condo market to escape their onerous rents.
And the quality of public transportation will decline proportionately... viz: 'twerking' in NYC subways.
they voted for this bs.
they deserve it
The sports radio guys were trashing the poor kid so bad the next morning. They said that a little league player would have still run after the ball.
The lack of apartments and condos is why the multifamily sector of home building around the country will continue to be strong. Even as single family prices decrease from over supply in a lot of markets.
The baby boomers are increasingly looking to downsize. They do not need 2500-3500 square foot houses anymore. However, they do want a free standing or semi detached condo where they do not need to mow the lawn or clear snow from the driveway up north in the winter.
In addition, the millenials and generation X did not buy a house for ten years after the Great Recession. Also, many 30 somethings have chosen NOT to have children. So, this all points to a increasing demand for condos, multifamily and semi detached houses.
Single family detached home prices are already going down in some markets(like Boise) in the country due to oversupply. I sell the biggest home builder in Idaho. They primarily build first time home buyer single family homes. Their business is down about 50% from a year ago. However, their multifamily business is strong.
Keep in mind real estate markets like Boise literally went up 100% in less than three years. That type of increase is never sustainable.
My son’s rent in Groton, MA is $1700/month including all utilities except internet.
He lives in a one bedroom 900 sq ft apartment above the garage in a single family house. He even gets to use one of three garage bays in the winter.
His landlords even installed AC for him, which they pay for.
They like him.
Sounds like he lucked out.
“The most affordable neighborhoods in Boston are Hyde Park, where the average rent goes for $2,064/month, Mattapan, where renters pay $2,163/mo on average, and West Roxbury, where the average rent goes for $2,436/mo. If you’re looking for other great deals, check out the listings from Roxbury ($2,866), Roslindale ($2,970), and East Boston ($2,978), where the asking prices are below the average Boston rent of $3,772/mo.”
These are all the neighborhoods that you DO NOT want to live.
Especially Mattapan and Roxbury.
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