Comments on: Our own little bubble – downtown Boston condo sales stay strong

By: Mike

Mike — Wed, 24 Oct 2007 13:25:10 +0000

And let me also note that there are MANY MANY buyers of city center condos

who don’t require mortgages. Boston is an extremely wealthy town. Think also about how many

thousands of lawyers and MBAs that our local universities pump out each year, with starting

salaries in the low to mid $200k/yr range. Also consider overseas buyers who are taking advantage

of the weak dollar and buying investment properties in prime nabes like the Back Bay and South End.

All these factors are ingredients in a recipe for a real estate BOOM TIME in the downtown

city center condo market! John titled this entry “Our own little bubble”. I must disagree! If

anything, prices in these areas are surprisingly LOW.

Unconfused — Wed, 24 Oct 2007 12:56:59 +0000

>>> Whoâ€™s buying these condos?

Either couples who make

$200K to $300K per year and take out big mortgages or folks who have been in the Boston real estate

market for 20 to 30 years.

Confused — Wed, 24 Oct 2007 12:18:26 +0000

Who’s buying these condos? I just find it

astonishing that there are that many people with that much money to spend on housing. I dunno

perhaps these people are mortgaged to the hilt and things will slow down with the new lending

standards. Then again there may be more money out there than I realize.

Boston Condo Guy — Tue, 23 Oct 2007 22:31:20 +0000

We’ve been talking about the strength of city center condos for a long time, great to hear others

getting on board with us.

John A Keith — Tue, 23 Oct 2007 19:12:24 +0000

Mike, try using these

reports:

breaks down on-market and sales by quartile for many of the downtown Boston neighborhoods.