Updated: Boston Real Estate Blog 2023
Byline – John Ford Boston Condo Broker
The triple whammy for Boston condo buyers
Boston Condos for Sale in 2023
The triple whammy for Boston condo buyers
- Boston condo for sale prices on the rise
- Mortgage rates for a Boston condo still above 7%
- Mortgage lending standards tightening.
Updated: Boston Real Estate Blog 2023
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So, how bad is this for Boston condo buyers? If you go back 25 years, you can see the steady rise in prices over time despite the bust in the financial crisis. And that makes clear why millennials are feeling such pain, given the triple whammy of higher prices, higher down payments and higher interest rates. Moreover, if residential property has as much utility as an inflation hedge as it did during the 1970s, this problem for first-time homebuyers is not going away any time soon.
Sorry for the bad news.
