Finally a smart article about housing prices and where the prices might go or not go. The article hit home. I was surprised to see that single family house prices in Weymouth, MA have not gone up yet based on sales figures from the local MLS. (Glad to send you the spreadsheet if you want to see it.) So much of what is published on house prices is media schlock.
Probably a lot of towns like Weymouth are just teasing an uptick in price. Yup, the market is faster and properties are selling well and the rate of price decline has slowed since the high water mark of 2005, but the prices haven't turned the corner yet in Weymouth. Quincy and Chelsea and other border towns to Boston are doing better with rising prices. Lexington prices went up. Groton down in the first quarter. (Glad to send you those spread sheets too).
Will House Prices Be Constrained by Stagnant Incomes?
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