Is the housing bubble still taking the JOY out of Christmas?

admin December 9, 2011

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Insert Stuck Santa

Six years after The Real Estate Cafe published this blog post, the housing bubble is still taking the joy out of Christmas.

Real estate bubble: Top news story of 2005?

Being squeezed for money is painful anytime, but it can be particularly difficult when it puts the squeeze on Santa, too. If you or someone you know is feeling stuck this time of year, tell them not to give up hope. First, Santa knows that during this time of financial difficulty, people are STUCK in lots of ways:

People who have lost their jobs or are underemployed may be STUCK in a mortgage they can no longer afford;
Approx. 20,000 homeowners across Massachusetts are STUCK with expired and canceled MLS listings they cannot sell (watch for upcoming blog post);
Nationwide, more than 6 million mortgages are in default and 11 million mortgages are underwater; and
Millions of would be home buyers are also STUCK, wondering if it is safe to purchase a home when housing prices are falling.

Knowing that Santa occasionally gets STUCK too may bring a moment of laughter to those people, but there are more powerful relief! For example, if you know someone who is STUCK in a mortgage they can no longer afford, that can be worse than a visit from the Grinch who stole Christmas — particularly if they are unemployed or underemployed and fear falling behind on your mortgage.

So here’s your big chance to be one of Santa’s helpers. Click on the link below, or simply share this blog post across your social network or with someone you know who’s STUCK in any of the real estate squeezes described above. If they’re unemployed and underemployed, encourage them to download the FREE Foreclosure Prevention flier with information about an array of programs for those who need help to meet their mortgages. If they contact one of the government-approved, non-profit housing counseling agencies, they can find out if they qualify to postpone mortgage payments for up to 12 months!

Bottomline: Don’t let the housing bubble take the JOY out of Christmas! (And don’t lose sight ofwhat really brings JOY into people’s lives!)

Categories: Uncategorized

Somewhere over the Rainbow

Today marks the 150th birthday of L. Frank Baum, author of the Wizard of Oz.

High cost of housing leaves some Bay Staters stuck as renters

Middle-class families lack funds to escape apartments for homes

admin May 15, 2005

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Gov 2.0 Idea Starter: Using social media to bring about reforms / prevent another housing bubble

Attending Gov 2.0 Camp New England at Harvard Kennedy School of Government. You can watch online at http://bit.ly/gov20ne. Hope others in attendance and online…

admin March 5, 2010

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Real estate bubble leaving leftovers or Christmas presents for homebuyers?

This chart, the first of five documenting price reductions in the Boston Globe’s feature story, ranks the increase in markdowns by price range for 2005 versus 2004 (click on image for larger view).

Red and green, the traditional colors of Christmas, indicate price
ranges in the middle of the market where holiday homebuyers will find
the most price reductions or "Christmas presents" this year.
Approximately 3,000 more price reductions have occurred on single family
homes between $400,000 and $600,000 (shown in RED), and more than 2,100
price reductions have occurred on homes priced between $300,000 and
$400,000 (shown in GREEN). Note, these are increases over last year not that total number of markdowns in each price range. All figures are through November 24, or roughly Thanksgiving, both years and are based on data from MLS Property Information Network, the multiple listings service covering nearly all of Massachusetts.

Larger price reductions — some well over $100,000 — have occurred
in
more expensive price ranges but there are fewer
properties in those price ranges, and in some cases fewer price
reductions
compared to last year. (That finding and others will be documented in
the next four graphs. Click on our RSS feed to receive them and other
blog entries as soon as they are posted.)

Some homebuyers see prices reductions and expired listings as stale leftovers, others see them as money-saving opportunities. What’s your take? You can post your comment here, or call our podcast line — 617-876-2117 — to record your own sound bite.

admin December 10, 2005

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Do-it-yourself retirement

Over the course of the past hundred years, the average life expectancy has gone from forty-something to seventy-something. Baby boomers are now envisioning 85 to 100 year life span, and many of us are wondering if we can afford not to work, and whether that would be an interesting lifestyle. The average retiree watches 43 hours of TV per week!

Retirement was started in the ’30’s not to create a leisure class, but because 25% of young people were unemployed. Retirement allowed younger workers to replace older workers, and to begin their economic lives. That condition no longer exists, so the nature of retirement is changing.

Employers will begin to create more flexible forms of retirement so people can continue to work part-time.

50 and 60 year old will begin to retrain themselves and start whole new careers.
Lots of people up and down the ladder to contribute to society.

Comparing the U.S. to other countries, Americans are most likely to be involved in financial considerations, and second least likely to expect their children to care for them in retirement.

Our "do-it-for-yourself" culture is motivating people to provide for themselves.

Ken Duckwell (check spelling), Age Wave

admin June 16, 2005

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Want savings from expired listings or $8K home buyer tax credit?

Continuing our annual end of the year analysis of expired and canceled listings across Massachusetts, focusing this time on the 10 days before Christmas, 12/16-25/11.…

admin December 27, 2011

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