Boston Area Housing Market Strength Is Likely Temporary
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I agree with your post. The conditions certainly seem to be creating the environment we are now in. Now the question on the sustainability of the situation. Well, we all know that markets are rather cyclical. Right now we have a great situation for buyers. We are also seeing homes close on the seller’s side, even though many may not be receiving what they paid for them. If a seller is in a tight spot, I think he can feel confident that he can find it close at fair market value in a relatively “short & sweet” period of time, provided the buyer’s are capable of finding that necessary financing for those situations where it is needed. The buyer’s who are well positioned have a seeming opportunity to take advantage of the current conditions. However, if we see a second wave of economic troubles, would being positioned and taking action turn to be worthy, or would it be “penny wise and pound foolish”. Do I think it is sustainable for some time, my short answer would be yes. I think the real question hinges on the full compass of global and national economics. Where will we be as a nation 2-3 years from now?