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First-time condo buyers

James Stewart, the awesome writer responsible for some of the best non-fiction books about Wall Street, has written an article about the housing “bubble” and why it shouldn’t matter to first-time homebuyers.  Worth a read.

By James B Stewart, Smart Money

(A)ll of this prompts an important question for first-time home buyers, people who aren’t speculators or investors, and just want a decent place to live and some security for their families…

…I know the feeling. I remember vividly trying to save the money for a down payment on a New York apartment during the early- and mid-1980s, another period of fast-rising real estate prices. The more I saved, the more I fell behind. Everyone else seemed to have self-satisfied anecdotes: how they got an “insider’s” price when their building went co-op, or how a six-room apartment overlooking Central Park in the San Remo went for $40,000 in 1976, the year I moved to New York. But I didn’t have $40,000, or even $10,000 back then, and I was never an insider.

Finally, after 10 years of renting, I landed a book advance that, along with all my savings, became the down-payment on a modest apartment. I was convinced I was buying at the top. New York real estate prices did plunge, but not until 1991, and they never got as low as the price I paid.

So despite my own concerns about high real estate prices, my advice to first-time buyers, for whom the home they want to purchase is their primary residence, and who can manage the down payment and monthly mortgage payments, is to ignore all this talk about an overheated real estate and the likelihood of a coming collapse in prices. Think of real estate less as an investment, and more as a consumer durable

Boston condos for sale


Author Profile

John Ford
John Ford

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs

In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.


For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.


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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.

John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114



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