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Archive for the 'Federal reserve' category


The Fed: Look for ‘lengthy’ housing recovery

The Fed’s Beige Book came out today. The key graf on the Boston District housing market: “Notwithstanding their reports of recent increases in activity, (real estate) contacts emphasize that activity levels in the region’s housing markets remain far from what they would characterize as ‘normal’ and they anticipate a lengthy recovery.”



Back in 2005 the Fed knew housing was 20% overvalued

Back in 2005 Federal Reserve Chairman Greenspan told us “there was a little froth in the real estate market.” Yet that was not what his economists were telling him at the time. The Federal Reserve has a 5 year moratorium on it’s meeting notes being released so we are now just being told the reality [...]



I Saw the Crisis Coming. Why Didn’t the Fed?

Michael Burry, who’s been made famous by Michael Lewis’s new book The Big Short, wrote an op-ed for the New York Times on Sunday, basically saying, I told you so. It’s just another assault on Greenspan’s legacy:
“ALAN GREENSPAN, the former chairman of the Federal Reserve, proclaimed last month that no one could have predicted the [...]



I have a better interest rate on my mortgage than the Fed Chairman

From TIME Magazine: Person of the Year 2009 Extended Interview
TIME: Do you have a mortgage?
Bernanke: Oh, yes, we refinanced.
TIME: Oh, perfect. When?
Bernanke: About 5%. A couple of months ago.
TIME: Good time.
Bernanke: Yes. We had to do it because we had an adjustable rate mortgage and it exploded, so we had [...]



What to do with the Fed?

Willem Buiter, Professor at the London School of Economics and Political Science, has a great critique of the Federal Reserve over at the Financial Times. Buiter says the Obama administration’s plans to enhance the Fed’s powers and turn it into the country’s systemic risk regulator spells trouble……. BIG TROUBLE. He writes:
If the same institution, [...]



Four More Banks Closed

Four more banks closed down last week. Total number of banks that failed this year? 29



Fed Reserve is coming soon to a theater near you

The subject won’t be the drama inside the central bank or its role in the current financial crisis. Rather, Fed officials plan to launch advertisements in movie theaters to warn homeowners about foreclosure scams.
Read the full story: Wall Street Journal



Don’t BLAME Me!

Just so you are not confused, the Federal Reserve had absolutely, positively nothing to do with the housing bubble. That is according to an editorial Alan Greenspan wrote in the Wall Street Journal. It was all due to China and other emerging markets. The Federal Reserve had nothing to do with it.



Inflation not a fear; lack of credit is

Lou Barnes says we should (still) be concerned about a tight credit market and that the Fed’s doing darn good (he’s of the minority view on that one, I think). One thing he doesn’t want to happen? Bailouts, handouts, and deficit spending.
The Fed is playing a very dangerous game exceptionally well. Inflation is [...]



Let's talk Boston real estate. The most recent real estate comments

  • sikka kaamna greens, Millennium vows to build a tall tower in the Big Hole: Thank you for providing useful...
  • Rich, New plans unveiled for Herald’s old South End site: My wife wants to see either a Whole Foods Market or a...
  • Rich, Downtown Crossing’s Big Hole to be filled?: This is of course good news. However, let’s not get too...
  • Seyi, Offer to purchase can be binding: I agree Gerry, I uusllay flag my listings until the home inspection issues...
  • Gloriane, Boston condo sellers: Can they specify a lender with an offer?: BS low – ratioalinty high! Really...
  • JohnF, Charles Street Retail Space Available for Rent: Thanks Bill, I spoke with your wife and I’m sure we can...
  • Bill, Charles Street Retail Space Available for Rent: I am looking for a small retail street level retail space for...
  • Funny, Rents hit record high in Boston: It’s not just Boston. Did you know rents in Worcester for a small 1...
  • John Ford, The economy and the local real estate market: Good info – thanks Nemo
  • Funny, To paraphrase Tom Brady: Mass. homes sales sucked in 2011: Imagine what would happen if 10-15% was shaved of...
  • Nemo, The economy and the local real estate market: The Labor Department does have a rate that includes all workers...
  • John Smith, A message from a Boston Real Estate Mortgage Broker: Thanks for your valuable post.I would like to know...
  • Rich, MetLife exits large portions of the mortgage business: MetLife is a very clever operator. In 2006, they sold...
  • Rich, Why the Fed didn’t see the housing crisis coming: Oh please. After the dot-com crash of 2000, the NASDAQ...
  • Funny, Is home ‘ownership’ a fraud?: smells of a gold digger. Next step is how we’re really all...
  • Suburban reader, Is home ‘ownership’ a fraud?: Incomprehensible indeed. It seems (I think) to assume that...
  • Rich, Is home ‘ownership’ a fraud?: I found the article incomprehensible.
  • SeanMarkup, ‘Back to 1990s home prices?’: Bangalore real estate prices are kissing skies day by...
  • Jaypee Kosmos, Beacon HIll Restaurant Space Available: Thank you !!! nice information found here… Jaypee Kosmos
  • Will F., I found the 1% and it’s not in Boston: This is true… Washington DC is a city of 600,000+...

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    Boston neighborhoods



    Boston Real Estate / Boston Condos



    Click on the links below for Boston condo neighborhood sales listings

    Boston Back Bay Condos

    Beacon Hill Condos

    Boston Charlestown Condos

    Fenway Boston Condos

    Boston South End Condos

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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 3rf 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

    Avg price per square foot - $780.00

    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

    Back Bay condos sales - 97

    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

    Average Beacon Hill condo sales price - $799,809.00

    Median Beacon Hill condos sales price - $560,000.00

    Average price per square foot for a sold Beacon Hill condo - $704.00

    Average days on the market for a Beacon Hill condo to sell - 165

    Beacon Hill condo sales 2011 Jan - Mar

    Beacon Hill condos sold

    Avg Beacon Hill condo price $823,500.00

    Med. Beacon Hill condo price $524,500.00

    Avg. price per sq ft. Beacon Hill condo $632.00

    Avg. days on market Beacon Hill condo 222

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    Boston Condos Brighton Sales Stats 2011





    Boston Brighton Condo sales - 25

    Brighton condo avg. sales price $259,510

    Brighton condo med. sales price $262,000

    Brighton condo price per sq ft $283.00

    Brighton condo days-on-market 90

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    Boston Condos Charlestown - Sales Stats





    Charlestown condo sales - 25

    Charlestown average condo - $545,019

    Charlestown median condo - $470,000

    Average price per sq ft Charlestown condo $458.00

    Average days-on-market 123

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    Fenway Condos Sales Stats 2011







    Fenway Condo Sales 2011

    Fenway condo sales 7

    Average Fenway condo price $292,500

    Median Fenway condo price $282,500

    Fenway price per sq ft $435.00

    Fenway days-on-market 237

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