Well, if prices fell 30% in the South End, what would that mean for a

buyer?

Here’s the scenario:

In March, 2005, if you had been

pre-approved for a purchase of $500,000, with 20% ($100,000) down, you could have bought a

one-bedroom, one-bathroom, 761 square foot penthouse unit at 22 Union Park, #6, for

$482,284.

If prices had fallen 30%, however, you could have bought a two-bedroom,

two-bathroom, 1150 square foot fourth floor unit at 424 Massachusetts Avenue, #401, for $470,050

(it sold for $671,501, actually).

Or, a 1057 square foot, one-bedroom, one-bathroom,

fifth floor unit at Wilkes Passage, 1313 Washington Street, #513, for $448,000 (it sold for

$640,000, actually).

I am very very skeptical that this would happen, however.

So many variables out there.  Still, it’s nice to pretend!

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