Comments on: Boston condo market – I’m seeing some positve signs

By: John Ford

John Ford — Mon, 23 Nov 2009 18:29:47 +0000

Bob, interesting article in today’s New York Times entitled: Federal Government Faces Balloon in Debt Payments. The national debt is now topping $12 trillion.

By: Bob

Bob — Sat, 21 Nov 2009 20:58:21 +0000

There are some pretty smart people that trade in the bond and note market. On Tuesday the 3 month T-bill’s yield was .6%. By Thursday it had fallen to .05%. Percentage wise that drop is huge. It takes quite a bit on money to make yields fall that far that fast. There is some big money being bet that we are going to see deflation. Deflation isn’t positive if you want your home to increase in price. For a time period on Thursday the actual yield on the 3 month t-bill was negative. That’s right investors were so concerned about the economy that they were willing to store their money and have a NEGATIVE return. Long-term rates are extremely low at the moment. The Fed is almost the only buyer in the Mortgage backed securities market. They plan to exit the market at the end of March. When that happens yields will rise. People don’t purchase homes based on price, but rather on payment. This will not end good.

By: John Ford

John Ford — Sat, 21 Nov 2009 19:13:38 +0000

Ok Mary, you won this round, but I’m like Rocky I’ll be back. For the record the condo was listed for $599,000 on 6/25/09 and by 8/24/09 it was reduced, with an asking price was $529,000. One could argue that because it went above the last asking price, perhaps we hit bottom.

By: Mary

Mary — Sat, 21 Nov 2009 19:06:17 +0000

“Egg Salad, I’ll dig deeper into those numbers”

Don’t bother, it’s the Bryant “sales” hitting ….

By: Mary

Mary — Sat, 21 Nov 2009 18:16:00 +0000

“Mary, 520 Beacon Street #6A on the market for $529,000 sold for $568,000.00. Hmm…”sorry I can’t help myself…” lol”

Sorry JF original asking was 599k…try again