Is buying a home around Boston worth it anymore?
The Boston Globe - 11/01/2015
We were looking for something cheaper, mostly because we didn’t want the expense. And we didn’t spend much time ruminating on the Jamaica Plain condo we sold back in 2009, either. Because while it’s true that condo prices have risen since then — in Jamaica Plain and across the city — the broader housing picture, specifically for single-family homes, is muddier than most people think. As much as housing prices skyrocketed last summer, as fast as homes flew off the market, the numbers show that Greater Boston single-family home prices, on average, are just returning to where they were a decade ago. Homeowners who bought 10 years ago are, on average, no better off now. “You’re actually selling today at the same price,” says Barry Bluestone, director of the Dukakis Center for Urban and Regional Policy at Northeastern University. “You haven’t made any money.”