As history has shown us downtown Boston real estate prices will go up and down, but another bubble/crash event is unlikely to happen. We live in a world where artificial markets are supported by the government, and until that changes, the Boston condo for sale market should be relatively a safe investment.
After all, in most areas around downtown Boston, we are at back to peak prices or higher. Many homeowners can sell today for their highest price ever – yet inventory remains relatively tight.
For pricing to sag or crash, it would take negative pressure. But most of that has been relieved, and there’s little threat of losing your house any more:
- The banks throttled way back on foreclosing.
- The government will modify your loan.
- Previously-underwater folks are regaining equity, and feeling better.
The housing crisis caused most people to gain a new appreciation for their house, and housing needs in general. As a result, we have low inventory because people don’t want to move – they don’t need to, it’s expensive to move, and for the most part, you have to leave town to make it worth it.