Raffles Boston (40 Trinity Place) | 426 Stuart Street | Back Bay

Sitting on the "Expressway"

51955456708_75f9792b26_k.jpg
 
Looks like fortuitous timing for this project, Echelon, St. Regis, etc., sounds like they're going to kill it:

From Berkshire Hathaway RE:

The YoY data for the Boston condo market paints the picture of what it is like out there:

• Inventory is down 44.29% from 2.8 months in 2021 vs. 1.56 in 2022

What does this mean? If no new inventory came to market, we would run out of condos for sale in just under seven weeks!

• Average sales price is up 16.16% from $859,558 to $998,438

• Days on the market for active listings are down 26.97%

One of the factors likely contributing to the increased demand is the additional six rate hikes the Fed is likely to make before the end of the year. Many buyers are racing against the clock to lock in mortgage rates before they creep higher and reduce their buying power.
 
Great post Vivanna!

I have been told that the Raffles project has listed some of their 16th floor pied-a-terre apartments (appr. 460 sq. ft) for $1.1 million.

Works out at roughly $2400 per sq. ft for the lower units.
 
Vivanna said:
Looks like fortuitous timing for this project, Echelon, St. Regis, etc., sounds like they're going to kill it:

From Berkshire Hathaway RE:

The YoY data for the Boston condo market paints the picture of what it is like out there:

• Inventory is down 44.29% from 2.8 months in 2021 vs. 1.56 in 2022

What does this mean? If no new inventory came to market, we would run out of condos for sale in just under seven weeks!

• Average sales price is up 16.16% from $859,558 to $998,438

• Days on the market for active listings are down 26.97%

One of the factors likely contributing to the increased demand is the additional six rate hikes the Fed is likely to make before the end of the year. Many buyers are racing against the clock to lock in mortgage rates before they creep higher and reduce their buying power.
Click to expand...


B...b...bbbut, Jeff Jacoby in the Globe is shouting that everyone is leaving Massachusetts for Kentucky or West Virginia!!!!!

What a clown:

www.bostonglobe.com

Bye-bye, Bay State - The Boston Globe

Year in, year out, tens of thousands of Massachusetts residents leave for good, and their numbers aren’t replenished by newcomers from other states.
www.bostonglobe.com www.bostonglobe.com
 
shmessy said:
B...b...bbbut, Jeff Jacoby in the Globe is shouting that everyone is leaving Massachusetts for Kentucky or West Virginia!!!!!

What a clown:

www.bostonglobe.com

Bye-bye, Bay State - The Boston Globe

Year in, year out, tens of thousands of Massachusetts residents leave for good, and their numbers aren’t replenished by newcomers from other states.
www.bostonglobe.com www.bostonglobe.com
Click to expand...
Not to be a stickler of data interpretation but this doesn't necessarily mean that people aren't leaving MA, it's possible a lot of this is driven by people in rural and suburban MA moving to Boston in addition to moving out of state while people already living in Boston are staying put
 
shmessy said:
B...b...bbbut, Jeff Jacoby in the Globe is shouting that everyone is leaving Massachusetts for Kentucky or West Virginia!!!!!

What a clown:

www.bostonglobe.com

Bye-bye, Bay State - The Boston Globe

Year in, year out, tens of thousands of Massachusetts residents leave for good, and their numbers aren’t replenished by newcomers from other states.
www.bostonglobe.com www.bostonglobe.com
Click to expand...
Jeff is a silly goose
 
Here's the census breakdown.

Yes, MA lost some population from April 2020 through July 2021, which makes sense as people shifted away from higher population areas due to covid. However, the state is still up by well over 400,000 people from 2010. Seems like Jeff Jacoby is cherry-picking specific stats to make it look like MA is bleeding population, but that really isn't the case other than in the short term due to covid.
 
And this state has been so good to his Trumpy pencil pushing ass
 
DZH22 said:
Here's the census breakdown.
How do you know it is all due to Covid? People are fleeing these high tax sucky weather states in droves. I believe this trend will continue and accelerate.

Yes, MA lost some population from April 2020 through July 2021, which makes sense as people shifted away from higher population areas due to covid. However, the state is still up by well over 400,000 people from 2010. Seems like Jeff Jacoby is cherry-picking specific stats to make it look like MA is bleeding population, but that really isn't the case other than in the short term due to covid.
Click to expand...
 
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