"We have the best housing affordability in at least 38 years, and the worst economy in 51 years. Hmm.... " so begins this months John Burns Real Estate Consulting Local Building Market Intelligence™. The report concludes that "Once the word gets out that homeownership is less expensive than renting, which is now also true in 54 of the 88 markets where we track this information, we expect buying activity to increase substantially (even in a horrible economy)." Boston's current ratio is 37%, a 40% decline from the peak of 61% in May 1006. This means that it now takes 37% of the 

For more information on the housing cycle see the February edition - Boston is now 1.6, very low on the level of concern for affordability. This is good news for Boston and MetroWest. 

For complete details on everything Metrowest Real Estate visit our website at http://www.JimByler.com

How much of your income do you want to spend on your housing? including taxes and insurance?

Comments

Printer version

 Tags: Boston MetroWest Real Estate, MetroWest MA Real Estate, Northborough MA Real Estate, Massachusetts Real Estate, Jim Byler

Article's Author

Jim Byler
Coldwell Banker Residential Brokerage
Northborough, MA

Contact Jim Byler