Bubble Proof Boston
By Anthony Longo 3 02 2008
…says CNNMoney.
Boston is long known for being a very traditional and owner occupied city. Unlike the Las Vegas’s, the Miami’s and other booming ‘investor oriented’ real estate markets, Boston’s housing pricing is just kind of go with the flow…not explode 200% in 3 years. Well, as much as all of us condo owners would have loved to experience that increase, we certainly are greatful to not see that bailing out decrease those markets are seeing today.
CNN put the Boston Condo market in their top Bubble Proof Markets category…and I am going to have to agree with the Press for once!
Average annual home price appreciation (1949-2006)*:
3.0%
Boston had the strongest wage growth of these cities through the tech bust and jobless recovery. Over the next five years, it will have the highest per capita income, next to San Francisco.
Go Boston!
Other Top Bubble Proof Markets:
2. Los Angeles
3. Seattle
4. Boston
[...] Anthony Longo wrote an interesting post today on Bubble Proof BostonHere’s a quick excerptBubble Proof Boston …says CNNMoney. Boston is long known for being a very traditional and owner occupied city. Unlike the Las Vegas’s, the Miami’s and other booming ‘investor oriented’ real estate markets, Boston’s housing pricing is … [...]
nice article
I agree about Boston being essentially, “bubble-proof” however a few points to consider:
- the CNN story refers to a magazine story about this in November 2006, so perhaps an update is needed.
- Boston has unfortunately not been “long known” as an owner occupied city. It may in fact be the case now, but much
of the early 1990s bust was accurately attributed to the
large number of investor/speculator units being foreclosed
on at the time.
I have no idea if Anthony Longo wrote an interesting post since the man can’t spell or construct an understandable sentence!
Thx Steve. Let me assure you, I do try my hardest to get my readership the most amount of important information to you (the public) as fast and as accurate as possible.
Have a great day.