What would cause the Boston real estate market to crash? There is always a risk of losing money on purchasing a Boston condo for sale, including high-cost areas like Back Bay, Beacon Hill, and Seaport. There is obviously more risk when prices are as high as they appear to be now. But, paired with a housing shortage, record-low interest rates, and what appears to be a buying frenzy. Unless someone discovers some hidden land that tens of thousands of Boston downtown condos can, magically, be built (quickly), there is little reason to expect a crash in the Boston condos market. Boston condo prices may soften, or you may get sucked into (way) overpaying for a Boston condo for sale. Or perhaps, you buy your dream home only to find your dream job is in another town, and you are forced to move and you will likely take a hit if you just purchased it within the last 2 years.
The only other thing that could really the downtown Boston real estate market to crash would be a wave of Coronavirus-related foreclosures. If for some reason, everyone had to sell at the same time, prices could drop. Even this would likely only put a dent in the frenzy around home buying, and I don’t see this as a likely possibility with all the government support to keep us out of another great recession. Unlike the financial crisis, most homeowners had to qualify for their mortgages based on their incomes at some point, and most have a larger equity cushion than average homeowners had before the real estate market crash during the great recession.
Now with all that said, I’ve been wrong before.
Click Here to view: Google Ford Realty Inc Reviews