Why pay rent when you can own? Charles Street retail space for sale. For more information call Linda Mitrano at 617-512-4557 or at 617-720-5454.

The Globe has a depressing article on how rents in Boston are now reaching record highs.

It seems almost impossible, considering the weak economy, the amount of lower-priced homes out there, and super-low mprtgage rates. You’d think rents would at least be holding steady.

But law of supply and demand is still the law of supply and demand. Many people just don’t feel comfortable about buying homes in this fragile economy, opting to rent instead, thus driving up demand for a limited supply of rental units. The result is higher prices.

The answers to the problem: A stronger economy, more people buying homes, less people renting, and contractors building more housing units. But all of that, needless to say, is easier said than done.

Charles Street retail space for rent – only $4,000.00 per month. Won’t last. Call Linda Mitrano at 617-720-5454.

Boston Real Estate Blog vaguely remembers running a variation of this ranking before. But we saw it once again over at another blog as if it were new — and we’re still shocked by its findings: Massachusetts is the second best state for foreclosure bargains.

You wouldn’t think that would be the case, considering Massachusetts didn’t have a housing slump nearly as bad as what was experienced in other states. But it makes sense, somewhat counter-intuitively, precisely because we have a stronger housing market. Read the post and you decide.

File under: Still looking for that six-bedroom foreclosure bargain in Dover

The final 2011 housing market statistics are in for Massachusetts. Borrowing a line from Tom Brady, the year sucked, but the fourth quarter wasn’t all that bad.

The Warren Group reports that single-family sales were down 6 percent last year, to 38,994, the lowest figure since 1990. That’s “1990,” as in the worst year of the recession following the collapse of the Massachusetts Miracle. Yikes. That ain’t good.

Prices were off about 3 percent, the Warren Group reported. But there was a bright spot in 2011: Fourth quarter numbers were stronger. The economy also seems to be strengthening. So there’s hope heading into the spring sales season.

File under: Go Pats!

President Obama will give his State on the Union address tonight and he’ll reportedly claim that the economy is improving, but we need to do more. Bravo to that!

The unemployment rate has improved since last year. But one can argue that the slight improvement is due to the fact that people have stopped looking for work – they are as the Labor Department puts it “not in the labor market.”

If you were to include the individuals who have given up looking for work what would be the unemployment rate be? 20 percent? And why doesn’t the Labor Department include discouraged workers?

On a positive note, here in Boston we do have strong signs that the economy in improving. As noted in past blog posts, the unemployment rate in Massachusetts has been going down for a while now. The real estate market has been holding strong compared to most parts of the country. Boston condo inventory is near record lows, which indicates Boston condos are selling.

So what are your thooughts? How would you grade President Obama’s handling of the economy?

Looking for an affordable retail space available for rent on Charles Street? For more information call Ford Realty at 617-720-5454.

I would like to share this message from a Boston real estate mortgage broker from MetLife, who also wrote several articles for this Boston Real Estate Blog:

Good afternoon, I hope all is well.

As many of you already know MetLife Inc. has stated it is exiting the business of originating forward residential mortgages. (1/11/12 time frame)

MetLife Home Loans, the residential-mortgage division of MetLife Bank N.A., will no longer accept new loan applications for forward mortgages.

I will be moving on to one of the fastest growing Mortgage Lender’s in New England that will place my clients in the best pricing possible with the utmost level of customer satisfaction.

Please keep my cell phone number very handy over the next 30 days at 617-771-5021, I believe there will be some very attractive refinancing opportunities going forward.

As a home mortgage consultant, I look forward to providing you with ongoing service. I will keep you informed of innovative products and features as well as any beneficial mortgage banking changes.

Call me anytime with questions at 617-771-5021. I am also happy to be of service to your friends and family.

Regards, Brian C.

Brian Cavanaugh
MetLife Home Loans
Senior Mortgage Consultant
One Financial Center, 21st Floor
Boston, MA. 02110
617.578.5047 office
617.771.5021 cell
617.578.3088 office fax
855.288.2943 personal efax
BmCavanaugh@MetLife.com
www.BrianMCavanaugh.com

MetLife, Inc. announced last week that it is getting out of the business of originating residential mortgages. MetLife Home Loans, the residential mortgage division of MetLife Bank, will no longer accept new loan applications for forward mortgages. MetLife Home Loans continues to originate reverse mortgages.

MetLife exits forward mortgages.

More from the Wall Street Journal:

You know something’s wrong when a company like MetLife can’t find a buyer for its mortgage unit, fires 4,300 workers, and its stock rises. But such is the condition of America’s housing markets, where the risk of overregulation and litigation are so high that companies would rather abandon a business than take a risk on growing it

File Under: Barney – enjoy your retirement!

Buffett’s Real Estate CEO is optimistic about the national housing market.