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Archive for the 'us and world economy' category


Good end-of-the-week news: Unemployment rate falls

Let’s hope it’s an omen for Sunday’s Super Bowl: The nation’s jobless rate fell to 8.3 percent last month, after employers created a net 243,000 jobs. It’s the biggest monthly increase in nine months.
The latest numbers bode well for Massachusetts, which will release its latest jobs stats in a few weeks. More than likely, it [...]



S&P/Case-Shiller: No sign of housing recovery

The latest S&P/Case-Shiller Index is in. Don’t hold your breath. It showed continued housing price declines in November, including in the Boston area.
The bottom line: U.S. prices fell an additional 3.7 percent in November compared to the year before, higher than what most economists had expected.
Here’s one hoot: Detroit actually saw an increase in [...]



Why the Fed didn’t see the housing crisis coming

Paul Samuelson says it’s somewhat understandable why the Federal Reserve last decade missed all the signs pointing toward an eventual housing crisis: There was no long-term perspective.
By that, Sameulson means there hadn’t been a full-blown financial crisis in the U.S. since the Great Depression, and so Fed officials just couldn’t see a crisis coming because [...]



Boston is 9th richest city in the world

Here’s an impressive chart showing that metropolitan Boston, on a per capita basis, is the ninth wealthiest city in the world. There are six U.S. cities in the top 10. Washington, San Jose and San Francisco are three of the other five. You’ll be hard pressed to guess the other two — one of which [...]



Massachusetts jobless rate falls to 6.8 percent

The state’s unemployment rate fell to 6.8 percent last month, providing yet more proof that the Bay State economy is performing considerably better than the national economy.
But there is one confusing bit of news: A separate study shows a net decline in the number of payroll jobs last month. You might be thinking: How can [...]



Merry (belated) Christmas!

Massachusetts retailers have gotten some unexpected post-Christmas good cheer: Holiday season shopping was locally very strong, according to new data.
It’s another sign that the Bay State economy is recovering rather well, with the exception being the housing market.



Boston: One of the least miserable cities in America

News flash: Boston is listed as one of the least miserable cities in the U.S. when it comes to economic performance.
But you do have to question the validity of any survey that lists Buffalo, N.Y. ahead of most other American cities, whether they’e miserable or non-miserbable.
Here’s the most miserable list.
File under: Les Miserables, ou [...]



State’s unemployment rate falls to 7 percent

Now here’s good news: The state’s unemployment rate last month fell to 7 percent, down from 7.3 percent and far below the national average of 8.6 percent.
The number of jobs created last month wasn’t spectacular. Only 5,000 new jobs were added to local payrolls. There’s also a lot of flux in the total labor-market stats, [...]



‘The 10 Worst Run States in America’

The next time you get down about the sometimes dysfunctional ways of Massachusetts, always remember: There are even more dysfunctional states in America.
It’s simply hard to beat Illinois and California in this category. Not to mention Rhode Island and Louisiana.



Finally, some decent news on the jobs front but …

Some good news on the U.S. jobs front: The unemployment rate fell to 8.6 percent, its lowest level since early 2009, and employers added about 120,000 new jobs to payrolls. But … wait … it’s all doom and gloom according to the NYT article linked above.
Okay, the numbers aren’t spectacular. The economy needs about [...]



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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    ------------------------------- Beacon Hill Real Estate: Retail Space Available

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    For leasing inquiries contact

    Linda Mitrano at 617-512-4557.


    New Beacon Hill condo

    New Beacon Hill condo furnished listing for rent

    Offered at: $3,000.00

    Two bedroom hardwood floors, laundy in the building, common roof deck.

    More information call Linda Mitrano at 617-512-4557.


    Classic Beacon Hill Duplex Condo

    Including Income producing In-Law Apartment. Two units for the price of one.

    Offered at: $879,000.00

    Gracious parlor level living area offers open floor plan, fireplace, dining area,revovated kitchen with custom cabinents.

    Lower level offers master bedroom with full bath and laundry. Includes a second bedroom with half bath. This unique condo also features a two level In-law apartment with a seperate entry. One car deeded parking space.

    More information call Linda Mitrano at 617-512-4557.

    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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