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College debt and the future of Boston condo sales

I’m very concerned about the future of Boston condominium sales. The amount of debt being accumulated to acquire a college degree is mind boggling.

The FinAid clock below is fast approaching $1 trillion, ratcheting up at the pace of nearly $3,000 per second. Americans now owe more on student loans than they do on their credit cards, a switchover that happened last year.

Consider that the amount you need to borrow to buy a Boston condo depends not only on how much you earn but also how much debt you already have, and you can see the large impact that the student-loan debt (bubble) will have on our local Boston condo market.

Read other posts about: Boston real estate condos news

Posted by John Ford on 12/20/11 |
| Read 1 Comment »

One Response to “College debt and the future of Boston condo sales” »»

  1. Funny
    Comment by Funny | 12/20/11 at 9:06 am

    And here’s the thing, you can not default and declare bankruptcy on it.

    If every business and homeowner can declare bankruptcy on any of their debt obligations and restructure it, why can’t students?

    Forgiving all debt is stupid, personal responsibility argument (I agree with) aside. But something very sour has happened with higher education in this nation.

    Especially since quality of education hasn’t really changed (while perception of what a degree is worth is at all time lows). Math, physics, philosophy, and critical thinking hasn’t changed. If anything, students are expected to know and learn more than their parents.

    Makes the OWS fellows sign all the more prominent: “Things are fucked up and bullshit.”

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    Boston Back Bay Condos 3rd Q 2011





    Back Bay Condo Sales 3rd Quarter 2011 - 150. Number of Back Bay condo sales in the 3rd Q of 2010 - 126

    Back Bay average condo sales price in the 3rd Q of 2011 - $974,258.00. Back Bay average condo sales price in the 3rd Q of 2010 - $944,320.00

    Back Bay condo 3rd Q 2011 sales price per square foot $736.88 Back Bay condo 3rd Q 2010 sales price per square foot $731.88

    Boston Back Bay condos days on market 3rd Q 2011 - 125 Boston Back Bay condos days on market 3rd Q 2010 - 106 Back Bay condo sales stats Jan - Sept 2011:

    Number of Back Bay Condo sales Jan through Sept - 334

    Avg Back Bay condo sales price - $1, 173,927.00

    Med Back Bay condo sales price - $795,000.00

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    Days on market for Back Bay Condo - 131

    Back Bay Condos - Sales Stats 2011



    Back Bay Condo Sales form April 1, 2011 - May 1, 2011 - 27

    Avg. Back Bay condo sales price - $1,324,226.00

    Med. Back Bay condo sales price - $1,210,000.00

    Back Bay condo sales price per square foot - $787.00

    Avg. days on the market for Back Bay condo - 184

    Boston Back Bay condos sold from Jan 1, 2011 - April 28, 2011 - 105.

    Average sales price for a Back Bay condominium in 2011 - $1,317,969.00

    Median sales price for a Back Bay condominium in 2011 - $865,000.00

    Average price per sqaure foot for a Back Bay condo in 2011 - $805.00

    Average days on the market in 2011 for a Back Bay condo - 153

    Back Bay condos/real estate sales for the 1st Quarter of 2011:

    Average Back Bay condo sales price - $1,290,181.00

    Median Back Bay condo sales price - $828,895.00

    Average Back Bay condo sales priec per square foot - $804.00



    Back Bay Condos Sold Jan 1, 2011 - April 16, 2011

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    Average Back Bay condo price: $1,407,795.00

    Median Back Bay condo sales price: $852,500.00

    Average price per square foot for a Back Bay Condo $863.00

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    Back Bay Condos Sold 2011

    Back Bay condos sold: 50

    Average Back Bay condo sales price:$1,367,003.00

    Median Back Bay condo sales price: $953,750.00

    Average Price per $/SF: $806

    Average days on the market for a Back Bay condo: 124

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    Beacon Hill Condos Sales Stats 2011





    Beacon Hill condos sold form Jan 1, 2011 - April 28, 2011 - 37

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    Boston Brighton Condo sales - 25

    Brighton condo avg. sales price $259,510

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    Brighton condo price per sq ft $283.00

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    Charlestown condo sales - 25

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    Fenway Condos Sales Stats 2011







    Fenway Condo Sales 2011

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