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Yankee

Housing Slowdown Deepens In Massachusetts

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From the Boston Globe:

"Housing Slowdown Deepens in Mass.: Single-family prices, sales slip in March"

http://www.boston.com/business/articles/20...eepens_in_mass/

My favorite quote from the article:

Ken Maddeford, owner of Maddeford and Garcia Real Estate in Chelsea, said everyone is feeling the pinch of rising mortgage rates, which are almost a percentage point higher than a year ago, and rising gasoline prices, which make prospective buyers more hesitant to enter the market. According to Bankrate.com, the average rate for a 30-year fixed mortgage in Massachusetts on Monday was 6.08 percent; a year ago, it was 5.33 percent.

''It's very expensive to live," Maddeford said. ''If they don't have as much money to live, they don't have as much to save, and they don't have money for a house."

Edited by Yankee

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Multi-family homes getting hit in MA also:

http://www.builderonline.com/industry-news...rticleID=291892

Multifamily-Home Sales Boom Ends 4-Year Run

Source: The Boston Globe

Publication date: 2006-04-22

By Kimberly Blanton, The Boston Globe
Apr. 22--Sales of multifamily properties in Massachusetts dropped 15 percent last year, ending a four-year run of rising sales and signaling that the market for condominiums converted from duplexes, triple-deckers, and four-families has peaked.

All bad things must come to an end. The US market has peaked and its just now beginning the downward run. Probably too late now to get out before the panic begins. The Fed have 2 more hikes to go, at least, so the carnage may be widespread and extensive.

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  • 342 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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